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Puppet Labs announced a $5 million Series B led by Kleiner Perkins Caufield & Byers on July 19, 2010. True Ventures and Radar Partners also participated. Puppet Labs said the financing brought its total funding to more than $7 million and would help it expand its engineering team.
What did Kleiner Perkins invest in?
The 2010 announcement described Puppet as an open-source configuration-management and data-center automation framework. It was intended to help organizations manage growing data centers and distributed or cloud infrastructure using reusable automation rather than repeatedly writing configuration scripts by hand.
Puppet Labs announced Puppet 2.6 on the same day, describing it as a major upgrade focused on enterprise environments. The funding announcement framed the round as support for company growth, specifically by building out the engineering team; it did not itemize a budget or assign a separate amount to product development.
Who participated in the round?
- Lead investor: Kleiner Perkins Caufield & Byers.
- Other participants: Existing Series A investors True Ventures and Radar Partners.
In the announcement, Kleiner Perkins partner Matt Murphy said the firm was backing the team and product because of the data-center management problem it saw them addressing. Radar Partners partner Kevin Compton pointed to competition with legacy systems and manually built processes. These were investors’ descriptions of the opportunity, not independent evidence of market position or customer results. Puppet Labs’ July 19, 2010 announcement.
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How does the $5 million round fit into Puppet Labs’ funding history?
The figures below refer to different financing milestones, so they should not be treated as interchangeable totals. The 2010 figure is the Series B amount and the company’s reported total immediately after that round; later figures reflect subsequent financing.
| Date | Financing reported | Reported cumulative funding |
|---|---|---|
| July 19, 2010 | $5 million Series B led by Kleiner Perkins; True Ventures and Radar Partners also participated. | More than $7 million, according to Puppet Labs. |
| January 23, 2013 | $30 million investment from VMware, according to TechCrunch. | $46 million, according to TechCrunch. |
| June 19, 2014 | $40 million round from existing investors, including Kleiner Perkins, according to Puppet Labs. | $86 million in cumulative venture investment since June 2009, according to Puppet Labs. |
The later rounds provide context but do not change what the title’s funding refers to: the 2010 Series B. The 2013 figures were reported by TechCrunch; Puppet Labs announced the 2014 financing in a June 19, 2014 release.
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