Build acceleration startup Depot Technologies Inc. revealed today that it has raised $4.1 million in new funding to enhance its offerings by adding support for other build inputs that can benefit from Depot’s acceleration technology.
Founded in 2022, Depot pitches itself as the fastest way to build Docker images and GitHub Actions workflows. Using the company’s platform, customers can accelerate their build processes, which include support for native central processing unit chips, instant cache sharing and performance-tuned runners.
The company argues that building software is still wildly inefficient and painfully slow, with continuous integration providers and traditional build tools struggling to address a common pain point for developers: slow build performance. Thrown into the mix are legacy companies, which Depot claims focus on the wrong abstractions, leading to inefficient software development processes and increased developer frustration.
Depot’s service is positioned as a solution to those issues by changing how software is built. The platform, it claims, provides secure, fast and intelligent build tools and services that save developers about 13,500 hours of build time a week.
“All software must be built to run and test code locally,” said co-founder and Chief Executive Kyle Galbraith. “Likewise, developers need to build again in a continuous integration environment before being testing and deploying to production. Depot accelerates builds in both environments to make the iteration cycle faster for developers everywhere.”
While still relatively young, Depot has found a willing audience, growing to more than 1 million builds per month and helping more than 3,000 users across over 1,800 organizations. Notable clients include PostHog Inc., Wistia Inc. and Semgrep.
Felicis Ventures led the Seed round, with Y Combinator Management, Aviso Ventures, Tokyo Black Inc. and several unnamed angel investors also participating.
“All software development relies on being able to efficiently build as quickly as possible across both locally and continuous integration environments,” said Felicis partner Jake Storm. “Depot is scaling the build acceleration platform that will revolutionize developer productivity in all environments.”
Depot had only raised a single angel round of $125,000 from Y Combinator prior to the new funding today, according to Tracxn.