GitLab has confirmed with TechCrunch that it oversaw a $195 million secondary sale that values the company at $6 billion. CNBC broke the story earlier today.

The company’s impressive valuation comes after its most recent 2019 Series E in which it raised $268 million on a 2.75 billion valuation, an increase of $3.25 billion in under 18 months. Company co-founder and CEO Sid Sijbrandij believes the increase is due to his company’s progress adding functionality to the platform.

Valuation source: https://techcrunch.com/2021/01/15/gitlab-oversaw-a-195-million-secondary-sale-that-values-the-company-at-6-billion/

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GitLab is an open source code collaboration tool with a rich feature set including management of repositories, reviewing tools, issue tracking, activity feeds and much more.