Docker has been pretty quiet in the months since Steve Singh was named CEO of the once white-hot container startup, and now we know why: the company has been putting together a $75 million funding round, which would bring the total amount of money raised by the company to $255 million.
The Wall Street Journal found an SEC filing released Friday that documented Docker’s funding round, which it began seeking earlier this year according to a Bloomberg report from August. At that time, Bloomberg reported that the new round would value the company at $1.3 billion.
According to the filing, as of Friday Docker has raised $61.8 million of the $75 million it is seeking. A Docker representative declined to comment on the filing.
Docker has been at a bit of a crossroads in 2017, after enjoying years as the commercial and critical darling of the enterprise tech set.
The company’s software for making containers — packages that essentially de-couple an app from the operating systems and can be deployed anywhere — easy to use was a smash hit, with containers becoming the go-to method for application development among cloud-native developers. But Docker has struggled to produce a sizable amount of revenue off its innovation, and container orchestrator Kubernetes has stolen its thunder as the most buzzed-about component of a modern forward-thinking software development team.
When he first took the job in early May, Singh told GeekWire:
First of all, Docker has plenty of capital to run against its game plan. We have the capital to build the business we want to build, and get to cash flow break even. Having said that, we will opportunistically look at an additional financing round, but only if it makes sense for us, and anything we do in additional financing would be to accelerate our focus on the enterprise and our focus on driving innovation faster.
That sounds like Docker is about to hire a lot more enterprise sales people in order to push that “focus on the enterprise,” as it seeks to find new sources of revenue from the many companies who are using Docker’s technology at the heart of their software development strategies. It also is planning to open a new office in the Seattle area to tap into the vast cloud-computing talent pool in the region, Singh announced in June at our Cloud Tech Summit.