About Skytap
Skytap is a company based in Seattle (United States) founded in 2006 was acquired by Kyndryl in May 2024.. Skytap has raised $127.51 million across 9 funding rounds from investors including Goldman Sachs, Kyndryl and Vistara Growth. The company has 138 employees as of December 31, 2022. Skytap offers products and services including Skytap on Azure, Skytap on IBM Cloud, and Skytap Virtual IT Labs. Skytap operates in a competitive market with competitors including Odoo, Harness, Kony, CircleCI and CloudBees, among others.
- Headquarter Seattle, United States
- Employees 138 as on 31 Dec, 2022
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Sectors
Technology
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Skytap, Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$127.51 M (USD)
in 9 rounds
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Latest Funding Round
$18 M (USD), Series E
Oct 19, 2023
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Investors
Goldman Sachs
& 9 more
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Employee Count
138
as on Dec 31, 2022
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Acquired by
Kyndryl
(May 13, 2024)
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Products & Services of Skytap
Skytap offers a comprehensive portfolio of products and services, including Skytap on Azure, Skytap on IBM Cloud, and Skytap Virtual IT Labs. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Enables migration and running of IBM Power workloads on Azure.
Supports native IBM Power workloads in the cloud environment.
Delivers scalable virtual labs for software training and demos.
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Software Development Team
273 people
Leadership Team
140 people
Senior Team
36 people
Sales and Marketing
30 people
Data Analysis and Operations Team
20 people
Product Management Team
12 people
Consult Team
12 people
Project Team
11 people
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Funding Insights of Skytap
Skytap has successfully raised a total of $127.51M across 9 strategic funding rounds. The most recent funding activity was a Series E round of $18 million completed in October 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 9
- Last Round Series E — $18.0M
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First Round
First Round
(01 Jun 2006)
- Investors Count 9
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct, 2023 | Amount | Series E - Skytap | Valuation | Vistara Growth |
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| Aug, 2017 | Amount | Series E - Skytap | Valuation | Goldman Sachs | |
| Dec, 2014 | Amount | Series D - Skytap | Valuation | Insight Partners |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Skytap
Skytap has secured backing from 10 investors, including venture fund and angel investors. Prominent investors backing the company include Goldman Sachs, Kyndryl and Vistara Growth. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Debt and equity solutions are provided to mid-to-late-stage technology companies.
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Founded Year | Domain | Location | |
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Investment banking services are delivered across multiple financial sectors.
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Founded Year | Domain | Location | |
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Venture capital investing in AI, biotech, and technology sectors, focusing on seed and early stages in Seattle and beyond.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Skytap
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Skytap
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Skytap Comparisons
Competitors of Skytap
Skytap operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Odoo, Harness, Kony, CircleCI and CloudBees, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Open-source business management software is developed with integrated modules.
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Automatic builds, testing, and deployments are managed via self-service platform.
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Cloud-based platform for field operations and digital banking is provided.
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| domain | founded_year | HQ Location |
Cloud-based software is provided for continuous integration and delivery management.
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| domain | founded_year | HQ Location |
Cloud-based continuous delivery software is offered for application development.
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Low-code platform enables application development and deployment without coding.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Skytap
Frequently Asked Questions about Skytap
When was Skytap founded?
Skytap was founded in 2006.
Where is Skytap located?
Skytap is headquartered in Seattle, United States. It is registered at Seattle, Washington, United States.
Is Skytap a funded company?
Skytap is a funded company, having raised a total of $127.51M across 9 funding rounds to date. The company's 1st funding round was a Series D of $35M, raised on Jun 01, 2006.
How many employees does Skytap have?
As of Dec 31, 2022, the latest employee count at Skytap is 138.
What does Skytap do?
Skytap was founded in 2006 and is headquartered in Seattle, United States. Operations focus on the cloud computing sector, where on-demand environments are provided to streamline software delivery processes. Self-service access is enabled for learning, development, testing, training, and running enterprise applications. Migration and modernization of business applications are also supported through these services.
Who are the top competitors of Skytap?
Skytap's top competitors include DigitalOcean, Harness and CircleCI.
What products or services does Skytap offer?
Skytap offers Skytap on Azure, Skytap on IBM Cloud, and Skytap Virtual IT Labs.
Who are Skytap's investors?
Skytap has 10 investors. Key investors include Goldman Sachs, Kyndryl, Vistara Growth, Madrona, and Insight Partners.
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