Software-tools maker Copado in Chicago raises $96 million – Crain’s Chicago Business

Software-tools maker Copado in Chicago raises $96 million – Crain’s Chicago Business

Copado, a fast-growing Chicago software maker, has raised $96 million in a deal led by venture fund Insight Partners and Salesforce Ventures.

The company, founded in Madrid headquartered in Chicago since 2018, makes software tools for developers at companies that use Salesforce’s cloud software.


Copado says its customer base grew from 200 to more than 1,000 in the past year and revenue more than doubled, though it declined to disclose specific financials.

“The strong performance of Salesforce led to incredible growth for Copado in 2020, resulting in heavy investor interest and an oversubscribed round,” CEO Ted Elliott, said in a statement.

The company has 220 employees globally, including 40 in Chicago, where Salesforce has a sizable operation. Salesforce will employ more than 1,000 in a 60-story office tower being constructed on the Chicago River near the Merchandise Mart. Chicago also is home to an engineering office of ServiceNow, a Silicon Valley-based company that makes tools for software developers.

Insight, based in New York, led a $26 million investment in Copado last summer.


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