Gearset receives $55 million investment to accelerate DevOps adoption for enterprises

Gearset receives $55 million investment to accelerate DevOps adoption for enterprises

Kevin Boyle on

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We’re excited to announce a $55 million investment from Boston-based growth equity firm, Silversmith Capital Partners. This is the first time Gearset has raised any funding since we founded the company 6 years ago.

What does this mean for Gearset and our users?

This boost in funding will allow us to sky-rocket DevOps adoption throughout the enterprise sector, accelerate work on our exceptional product and further expand our global team. Over the last year we’ve opened new offices in the United States (Chicago, IL) and Ireland (Belfast) and doubled the employee headcount. The additional funding will allow Gearset to continue on this trajectory while also focussing on giving our users the best possible product to supercharge their release processes.

We started Gearset because no one was solving the fundamental problem of taking the pain out of Salesforce deployments. We wanted to start there and build out a comprehensive DevOps solution for the platform, bringing our DevOps expertise to the Salesforce world. So we began by creating our unique comparison and deployment engine, then added tools for automation, data management, and backups.

Since then, Gearset has become a profitable, rapidly growing business and a trusted DevOps platform for Salesforce teams, running 250,000 deployments a month across more than 1,700 companies. In just the last year alone, we’ve nearly doubled ARR while maintaining positive cash flow and have just been announced as the 3rd best tech employer in the UK, in the Best Companies Awards 2022.

Over the last six years, we’ve focused unrelentingly on making our users successful, and built a product that solves the hard problems in Salesforce DevOps, while being easy to use for teams of all technical backgrounds. In doing that, we’ve seen incredible growth in the number of Gearset users, and today some of the biggest, and most impactful, companies on the planet rely on us for their deployments.

As a founder-led company, finding the right partner who shared our philosophy of building a fast-growing but long-term-sustainable company was the most important thing we were looking for when we decided to raise capital.

Who are Silversmith Capital Partners?

Gearset has found the perfect partner in Silversmith. Much like Gearset, the company was founded in 2015 and has seen a huge amount of growth in the last few years. Their mission is to team up with and support the best entrepreneurs in growing, profitable technology and healthcare companies. They believe in collaboration, long-term partnerships and working together as a team, which instantly stood out to Kevin and Matt.

I’m especially delighted to welcome Silversmith’s General Partner, Sri Rao, to Gearset’s Board of Directors. Sri is going to be a fantastic addition to the board, and I know he’s as excited as we are about Gearset’s future.

“We are passionate about partnering with entrepreneurs like Kevin and Matt who have lived their customer’s pain points and are compelled to solve them through technology-driven solutions. Gearset’s relentless focus on building exceptional products, investing in customer success, and fostering company culture has established a strong foundation to build upon. We are thrilled to work with Kevin, Matt and the entire Gearset team as they continue to accelerate their growth.”

Sri Rao | General Partner | Silversmith

Here’s to our future - DevOps and beyond!

We’re extremely proud of everyone who has made Gearset the leading DevOps solution it is today and can’t wait to see the product and team grow in the next few years, with the brilliant experience and insights from Silversmith.

Companies around the world need cutting-edge tooling to deliver their digital initiatives. Gearset will continue to enable technical, low-code and hybrid teams to operate a DevOps process with just clicks, lowering the barrier to entry and increasing the speed and reliability of development.

This funding is a big, exciting step for Gearset, but our values will always remain the same. We continue to focus on delivering a great product for our users. See what our customers say about Gearset here.

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