Armory Raises $40M to Drive Software Delivery SaaS Platform for Enterprises Adopting Cloud

Armory, the enterprise software company commercializing Spinnaker, the leading open source continuous delivery platform, today announced that it has raised a $40 million Series C financing round led by B Capital, with Lead Edge Capital and Marc Benioff, participating. The round also includes follow-on investments from existing investors, including Insight Partners, Crosslink Capital, Bain Capital Ventures, Mango Capital, Y Combinator and Javelin Venture Partners. This new round brings the company's total funding to-date to over $82 million. Armory also announced that Rashmi Gopinath, General Partner at B Capital, has joined its board of directors. The funding will accelerate R&D, Customer Support, Sales, and Marketing for the Spinnaker-as-a-Service cloud platform Armory has designed to make its software delivery, security, scalability, and reliability features more accessible to the Global 2000. Companies can apply for early access to Armory's SaaS offering here.

"Progressive companies that understand how to build, ship and iterate on feature-rich experiences for their users will thrive over the next decade, out-innovating their peers and accruing much more enterprise value than those who don't," said Daniel R. Odio, CEO of Armory. "We are entering an era of Big Code, where source code becomes the DNA of a company. Legacy software delivery tooling built for data centers cannot handle the massive complexity that comes with coordinating thousands of developers as they break monolithic apps into hundreds of microservices and deploy to dozens of targets across multiple clouds like AWS, GCP, and Azure. Armory is a cloud-native software delivery platform built on the open source multi-cloud CD standard, Spinnaker, which is supported by hundreds of the world's leading enterprises, including all of the major cloud vendors. Armory powers software delivery for some of the world's most progressive Fortune 500 companies, like JPMorgan Chase and Autodesk, accelerating their growth over the coming decades. Partnering with B Capital enables us to continue to scale Armory across the Global 2,000."

"Armory's upcoming SaaS offering of Spinnaker addresses a critical need to consume infrastructure software in a self-service approach. From the Global 2000 to mid-market, enterprises are adopting Spinnaker because it's the only proven enterprise-grade cloud native platform that supports complex deployments in a highly scalable, secure, and regulatory-compliant manner and it's a key reason B Capital is excited to make this investment into Armory," said Rashmi Gopinath, General Partner at B Capital. "Spinnaker's thriving and vibrant open-source community is a significant differentiator and offers an unmatched competitive advantage for Armory. We look forward to working with the Armory team to build a devops category leader in the continuous delivery market."

Armory deepens its executive bench, hiring two industry veterans

Margaret Francis, most recently SVP Product Management and GM of Heroku (a Salesforce company), joins Armory as Chief Operating Officer. During Margaret's six year tenure at Heroku, she helped to grow the business from tens to hundreds of millions of dollars annually by launching a series of best-in-class products that helped developers to build and run cloud applications with ease. "What makes me excited about Armory is the potential to make it safe, easy and fast to deliver software to production, a problem I've seen firsthand at the many customers and in the many teams I've known and worked with. We need a next generation Software Development Life-Cycle (SDLC) where a set of key technologies work together to make cloud deployments quick, safe, and resilient," said Margaret Francis. "What I loved about Heroku is the ability to get from an idea to an app to a business in a flash. Armory has an opportunity to drive innovation for the enterprise by focusing on rapid innovation through a developer experience that is collaborative and scalable."

Sarah Sproehnle joins Armory as Worldwide VP of Customer Success. Sarah brings 20 years of experience in enterprise open source software, and spent the last decade building Customer Success teams at Cloudera and Confluent. "I'm drawn to companies that transform the way technology is used, and Armory is doing that. What made this opportunity even more special is the team and its people-first values, which extend to our employees, customers, partners, and the open source community."

"Creating a diverse workforce and inclusive environment for our employees to thrive is key to unlocking innovation and successfully scaling Armory. I'm thrilled to welcome Margaret and Sarah to Armory's executive team, and additionally, for Margaret to join Armory's Board of Directors," said Mr. Odio.

Spinnaker: The Open Source Standard for Software Delivery at Scale

Spinnaker is the leading open source software delivery platform used by 15,000 enterprises to visualize, codify, and automate the entire SDLC. Spinnaker enables developers to own their services from code to production by uniting a pipeline management system with deep integrations to deployment targets within AWS, Microsoft Azure, Google Cloud Platform, Pivotal Cloud Foundry, and more. Spinnaker is also the only open source software delivery platform with active contributors from all major cloud providers. Developed and open sourced by Netflix and Google, the platform has been tested in production by thousands of teams over millions of deployments. Spinnaker's core functions are application management and application deployment; application management allows users to view and manage cloud resources, while application deployment manages continuous delivery workflows.

"At AWS, we're proud to work closely with Armory and congratulate them on their Series C funding," said Deepak Singh, Vice President of Compute Services, Amazon Web Services, Inc. "Spinnaker is an enterprise-grade, open source project that is utilized by a number of our customers to improve their developer teams' productivity. We're happy to contribute to this critical OSS project and look forward to continued work together with Armory."

Armory is the top independent contributor in the Spinnaker community and holds seats on the Continuous Delivery Foundation board, the Spinnaker Steering Committee, and the Technical Oversight Committee.

Spinnaker Summit: A Hands-On, Month-Long Virtual Event from Oct 19 - Nov 12, 2020

This year's Spinnaker Summit brings together a thriving global community of software collaborators to learn about and experience Spinnaker in a hands-on environment. The conference includes talks from experts in software delivery from global enterprises like Adobe, Airbnb, Autodesk, AWS, Cisco, Cloudera, Microsoft, Modzy, Netflix, Pinterest, Red Hat, Salesforce, SAP, Snap, Splunk, Sumo Logic, Xero and more. The event also features hands-on workshops where participants engage in Spinnaker training or build plugins for Spinnaker in collaboration with other SDLC vendors. Register for the event here.

Armory: Modernizing the Way Industry-Leading Companies Deliver Software

Armory is helping some of the world's leading companies unlock innovation by accelerating safe, efficient and fast software delivery. Armory's platform is built on Spinnaker and incorporates its continuous deployment best practices. This funding validates the importance of effective software delivery as well as Armory's approach to empowering companies - including Global 2000 customers with a combined market capitalization of over $2.5 trillion - to achieve true digital transformation.

About Armory

Armory is the company driving modern digital transformation with its enterprise version of Spinnaker. Armory's scalable, flexible and secure platform automates software delivery, enabling software teams to collaborate from code to cloud. The core of Armory's platform is powered by Spinnaker, the continuous delivery platform developed and open-sourced by Netflix and Google to help companies quickly and safely deploy software into multiple clouds. Armory builds on open-source Spinnaker's foundation, adding proprietary features for bolstered enterprise scale, along with 24x7 enterprise-grade support. Armory's platform is trusted by dozens of Global 2000 customers in financial services, technology, retail, healthcare, and entertainment. Armory is also a proud sponsor of, and contributor to, the Continuous Delivery Foundation (CDF), the vendor-neutral home of the fastest-growing projects for continuous delivery.

Founded in 2016, Armory is funded by B Capital, Insight Partners, Crosslink Capital, Bain Capital Ventures, Mango Capital, Y Combinator and Javelin Venture Partners.

Armory is headquartered in San Mateo, Calif. Learn more at and follow at @cloudarmory.

About B Capital Group

B Capital Group is a global firm specializing in equity investing in venture and growth-stage companies that have achieved traction with customers. Through our extensive global network and exclusive partnership with The Boston Consulting Group, B Capital helps high growth startups navigate business challenges, raise capital and attract talented leadership at key points of their journeys to scale. With offices in San Francisco, New York, Los Angeles and Singapore, B Capital believes innovation can come from anywhere. Our unique multinational presence and deep industry knowledge have enabled us to build a portfolio of startups in Enterprise application software, Infrastructure, Security, AI/ML, Fintech and Insurtech, and HealthcareTech and Bio IT that are transforming large traditional industries across borders and geographies. Portfolio companies include AImotive, Atomwise, Blackbuck, Bounce,, CXA, Evidation Health, Icertis, INTURN, Plastiq, Ninja Van, Notable Labs and SilverCloud Health. For more information, visit

Source: Armory, Inc