Incredibuild is a software startup company that provides companies with the technology to deliver better products faster and more effectively. The business claims that it has 200,000 users across 2,000 companies using Incredibuild’s platform, including big corporate names like Microsoft, Amazon, Adobe, Disney, Nintendo, and several others. In addition, the startup company claims its software allows businesses to reduce product release times by 80%.
Although the software business was founded in the early 2000s and gained early traction in the gaming industry, it has gone fairly unrecognized despite being supported by big-name companies. Fortissimo Capital, a private equity company, acquired the business in 2018. Additionally, Incredibuild recently completed a funding round resulting in the startup company raising $140 million with Insight Partners as the lead investor.
Incredibuild’s New Funding
As the first substantial investment for the startup company, Incredibuild has a reported valuation of between $300 million and $400 million. Incredibuild’s growth and financial investment are perfect examples of the growing software market. In 2021, information technology spending on business software was expected to reach around $506 billion worldwide.
Of this new funding, Tami Mazel Shachar, CEO of the software business, said, “With the new funding, Incredibuild is poised to expand the market opportunity enabling companies to maintain their competitive edge. With cloud adoption paramount, we plan to further scale and evolve our software development acceleration platform for development teams and release managers in verticals such as finance, gaming, and the growing augmented reality and virtual reality markets.”
Shachar added that the software startup company has been profitable since its beginning and has seen a 55% increase in revenue in the past year. With this new funding, the business plans to continue building out its technology and business model to apply to a wider range of companies and other cases where it’s needed.
In regard to why Insight Partners invested in the software startup, Teddie Wardi, managing partner at the venture capital business, said, “Incredibuild fits this criteria as its technology helps developers become more efficient and thus allows companies and teams to ship more software and cut down on compute costs.”
About the Author
McKenzie Carpenter is a graduate of Central Michigan University with a B.A.A. in Integrative Public Relations and French. McKenzie has previously worked for small businesses and nonprofit organizations.