Tel Aviv, Israel, May 17th, 2016 – Minute Lab, has recently secured funding of $2M by Glilot Capital Partners, who specialize in the area of Enterprise Software.
Founded by Rami Shalom and the ‘techie’ brother and sister team, Moshe & Daphna Litvin, Minute Lab offers a powerful, containers-based virtual labs for developers to enable true agile development by making interactive and automated code development in a live environment, easy.
Setting up a fully functional, production-like lab environment for developers to interactively execute their newly written code has been a critical component of their daily work. Minute Lab intends to capitalize on offering developers and DevOps teams a way to save a significant amount of time and resources in building and maintaining their software. The company will offer its virtual lab solution as a service for a variety of team sizes and projects.
“Facing a rapidly growing demand for innovation and functionality on the one hand and agility and quality on the other, developers today are placed between a rock and a hardplace” explains Rami Shalom, Minute Lab CEO. “Without proper tools to empower their skills and spend their time on what really matters, developers end up delivering less while spending more time on building their code”
The company will offer its solution for free for individual developers and open source projects. It will offer software as a service, delivered as virtual clustered servers running multiple dev/test labs in the cloud, as well as on premise software for enterprises that demand it.
“The progression into a software-based economy is driving large corporations to make unprecedented investments in development practices and tools to enhance their productivity and quality” says Arik Kleinstein, Co-Founder & Managing Partner at Glilot Capital. “In software economy leading corporations establish their edge with their ability to deliver better software faster. They do so by adopting new practices like continuous integration, continuous delivery and DevOps, as well as new dev tools that allow them to rapidly develop and release new software. This wave is clearly manifested by an increase in enterprise spending in development tools over the past three years and the adoption of new development practices”
Over the past 12 months, Minute Lab has built an alpha release of its product, enabling individual developers to setup their own labs locally or remotely on co-tenant servers. Aligning with development best practices, Minute Lab allows swift spin-up and teardown of lab environments on demand, for development teams to efficiently manage as many lab environments as needed to deliver better quality code faster thus reaching the continuous integration phases better prepared.
“Minute Lab’s solution has great potential to solve a common problem developer’s face”, says Moied Wahid, Dir. of Software Development in PayPal Inc. “The growing complexity of hundreds of interrelated microservices spread over many servers creates a real challenge to developer productivity. We need a mature solution which will allow our developers to untangle some of the complexity in building state of the art software. By easily setting up their own lab environment developers accelerate the development life cycle.”
The first round of financing allows Minute Lab to improve its existing product and expand sales.
About Minute Lab
Minute Lab is split between Israel, where two of the founders running the technology side are based and the California bay area where the third founder, handling the business side, is based. Rami Shalom, Minute Lab CEO, headed a business unit and was a VP of product management in SafeNet Inc.
Combining 15-20 years of experience each founder has in top-notch software companies and startups, Minute Lab’s passionate founding team brings a balanced and broad experience in successfully building and delivering innovative technologies to the market.
The company intends to hire during the next nine months 10 developers and QA engineers.
About Glilot Capital Partners
Glilot Capital is a seed and early stage venture fund that invests in Israel’s most extraordinary
entrepreneurs. Glilot backs teams that have developed sophisticated technology, particularly in the areas of Enterprise Software and Cyber Security.
The fund creates an environment that makes it possible to generate real, lasting value for both sides of the investment equation. Microsoft, Marketo and Intuit have acquired three of the fund’s first four portfolio companies.
Glilot was founded in 2011 by Kobi Samboursky and Arik Kleinstein, and currently manages more than $120M across its funds.
For further information please contact:
+1 (650) 567.6522 | firstname.lastname@example.org
+972-54-6833983 | H[email protected]