Atlassian raises $150M on $3.3B valuation to buy back employee shares

Atlassian is an interesting company, unusual in many ways. The software development-oriented work management company employs not a single full-time salesperson, although the company has over 35,000 client companies and 800 employees.

It has been profitable for years, but it is raising a round, as reported by the WSJ and Venturebeat, to get some cash to employees and early investors rather than racing to a near-term IPO. So it’s bringing in $150 million on a $3.3 billion valuation based on a $200 million run rate.

Competing with Github on the developer support side, and Yammer, Jive, and other conversational work media companies  for other functions. Atlassian uses the camel’s nose approach: first it is brought into the company by developers, who use the company’s Jira and other developer and support-specific tools. Then, the developers start to engage with other functions — product management product marketing, customer support — with the company’s Confluence tool. Often that tool spreads across the company, and it starts with a dedicated community of developers infecting the entire company.

And the company is also wise to the way the world is headed, and acquired Hipchat in 2012, to increase its messaging offerings.

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Stowe Boyd

Stowe Boyd

Lead analyst, future of work Gigaom Research and stoweboyd.com

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