Docker is reportedly looking to raise $75 million to fund the growth of its open source container software of the same name.
Bloomberg cites sources that expect the round to close by the end of the month, with the equity on offer valuing the company at $1.3 billion
Dock and load
The valuation puts Docker slightly above the $1bn it was valued at in 2015, when it last raised money. At the time, it took in $95 million to fund new features and enable deeper integration with partners such as AWS, IBM and Microsoft.
With this new cash influx, some is planned to be spent on building a sales and marketing team for corporate clients, one of Bloomberg’s sources said.
Another source said that Docker will appoint experts in operations and enterprise sales to its board in the coming months, slowly phasing out members who represent investors.
This change, plus the fund raising round, come after the company’s senior management recently underwent its own transition.
Former Concur Technologies CEO Steve Singh took over as CEO of Docker in May, replacing Ben Golub. With EVP of Product Marc Verstaen set to leave the company, his job will be taken by Docker co-founder and CTO Solomon Hykes.
Adoption of Docker the software has grown steadily since its launch in 2013, but Docker the company has long struggled to turn that success into a lucrative business model. Meanwhile, it has seen increased competition from Google’s Kubernetes and companies such as Mesosphere.
For more on containers, DCD reporter Dan Robinson looks at how they’ll unlock the potential of the cloud in the next issue of DCD Magazine - out very soon