PE Tech Report

NEWSLETTER

Like this article?

Sign up to our free newsletter

Atlassian closes USD60m investment from Accel Partners

Atlassian, a Sydney-based provider of software tools for streamlining product development, has closed a USD60m investment from Accel Partners for a minority equity position.

Rich Wong (pictured), partner at Accel Partners, will join Atlassian’s board of directors.

The funds will help Atlassian expand into Europe and Asia, while additional focus on M&A will add complementary products to the Atlassian portfolio. The investment will also be used to facilitate liquidity for employees.

Atlassian was co-founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, who will continue as co-chief executives of Atlassian. Atlassian has 225 employees based in Australia, North America and Europe.

Atlassian creates on-premise and hosted software development tools to help teams of all shapes and sizes accelerate product development.

Atlassian’s products are used by over 20,000 customers in 134 countries from a wide variety of industries.

"We’ve been on a change-the-world mission since we started. We believe great enterprise software shouldn’t cost an arm-and-a-leg, shouldn’t need a salesperson to explain how it works, and shouldn’t need an army of consultants to get working," says Cannon-Brookes. "With 20,000 customers, we’ve barely made a dent in our mission to have every development team use at least one of our products. We’re excited to have a partner like Accel help us get there."

"We’ve been fans of Atlassian for years, and the vast majority of our portfolio companies innovate using Atlassian products," adds Wong. "We had a front-row seat to how Atlassian’s products help other companies build great software, and that got us excited to help Atlassian reach new markets and audiences. We’re fans of Atlassian’s unique culture, their incredible execution and the continued opportunity in front of them. We look forward to remaining a long-term partner in their quest to help software developers and technical teams everywhere deliver great products."

Like this article? Sign up to our free newsletter

MOST POPULAR

FURTHER READING

Featured