Octopus Deploy gets set to unfurl its tentacles after $2 million investment from Red Gate
Thursday, October 2, 2014/
Octopus Deploy is a deployment automation system for .NET developers.
Founder and chief executive officer Paul Stovell launched Queensland-based Octopus Deploy in 2011 in his spare time before beginning to work on it full-time in 2012.
He’s funded the company himself up until this point, but he says it’s been profitable since day one. It now employs eight staff.
The decision to take on investment was not motivated by the money.
“The trigger for us doing this was partnering with Red Gate means we’ll get a better database deployment story to take to our customers,” he says.
“We’re a growing company, but there’s been a lot of companies in our space that have been acquired recently, and this partnership helps us compete.
“Part of the reason for going with Red Gate is it’s a large company with over 300 people and they’ve got a lot of experience taking products to market and building those products up.”
Red Gate chief executive officer Simon Galbraith told The SDTimes that the company invested in Octopus Deploy because they believed it was the best release management tool out there.
“We’re recommending it to our customers as a replacement for Deployment Manager and many of them have already switched,” he says.
“This investment ensures that Octopus has sufficient resources to support our customers as they switch and to continue developing the tool.
“Our intention is to free the Octopus Deploy team to build the best tool they can.”
Stovell says the funding will enable Octopus Deploy to focus on growing faster, adding more features, and continuing to innovate its product offering.
A cultural war: What Hayne's report means for fintechs, accountants and small-business lending Charlotte Petris Timelio founder
In a perfect world: Canva's Melanie Perkins dreams about the future of Australian startups Melanie Perkins Canva co-founder
Swipe right for (data) validation: What dating apps can teach us about data security Leah Callon-Butler intimate.io co-founder
How do Australian startups tap into the $140 billion of dry powder sitting in the US? Andrea Kowalski Bailador partner
No silver bullet: Four steps to find the perfect sales and marketing channel for your startup Vinne Schifferstein Vidal Botown founder
Buzinga to Appster: An insider's theory on why the app giants keep falling Joseph Russell DreamWalk Apps co-founder
Got brand goals? The four most marketable sports of 2019 Andrew Montesi Pickstar head of marketing
What founders can do now to prepare for a possible 2019 recession Les Szekely EVP co-founder