Docker Inc. – the software containers firm, is raising funds to increase company’s valuation to 1.3 billion. Reportedly, the company will raise $75M funds in its latest funding round.
The Company is planning to invest portion of the capital on building a sales and marketing team which would be focused towards large organizations.
Docker is the leading name in container space and helps software developers build and run software programs more efficiently. The container technology empowers developers by allowing them build isolated and independent spaces that can be stored in the cloud.
This move, will help the firm to boost company’s effort to commercialize its open-source container engine.
Industry report states that there will be more management level changes in the firm. The former chief executive officer of Concur Technologies Inc. – Steve Singh took the lead at Docker in May. At that time, he replaced the then co-founder Ben Golub. Marc Verstaen who is the executive vice president of Product at Docker will also be replaced by another company’s Co-Founder and CTO, Solomon Hykes.
Docker has been facing tough competition from rivals like Mesosphere and Google born open source containerization platform Kubernetes.
With the recent reports of major cloud providers like Google, IBM, Microsoft and Amazon joining Kubernetes’ parent organization CNCF (Cloud Native Computing Foundation), Docker would need to accelerate its product promotion and popularity among users.