Goldmach Sachs has made a generous investment towards the sum of 20 million dollars to the startup company GitLab.
As you may have guessed from the name, GitLab is a direct competitor of GitHub. Goldmach Sachs has been using the platform since the beginning of the year, and apparently, the engineers like the platform so much that Goldmach Sachs decided to make an investment into the startup.
This comes as great news to the founders of the company, Sytse Sidbrandij and Dmitriy Zaporozhets, who are working tirelessly on improving their platform with expansions and valuable acquisitions. The 20 million dollar investment comes several months after GitLab managed to raise $100 million in Series D funding.
The main difference between GitHub and GitLab at the moment is that GitHub is the more public friendly platform for individual users, whereas GitLab is mostly used by businesses or organizations. It will be interesting to see if GitLab decides to stay in this niche, or expand their consumer base.
GitHub was acquired by Microsoft back in June, and with backing like that, it’ll be hard for GitLab to register on GitHub’s radar in a big way. But Goldmach Sachs has faith in the startup, and from the looks of things, that faith does not seem to be misplaced.