Ambassador Labs procures $20m to improve software development

• Investment will be used for product expansion
• Ambassador Labs also named Steve Rodda as CEO
• Rodda succeeds Richard Li, who remains chief product officer

Ambassador Labs, a cloud native developer experience company, has secured a $20 million growth investment. The lead investor was Insight Partners.

Ambassador Labs enables developers to code, ship, and run applications faster and easier than ever. In addition to Insight Partners, Ambassador Labs is also backed by Matrix Partners.

Ambassador Labs will use the new investment to accelerate go-to-market initiatives and expand its product portfolio.

“Ambassador Labs had early foresight into the market opportunity that surrounds Kubernetes and its impact on modern software development,” Philine Huizing, a principal at Insight Partners, said in a statement. “They have impressed us with their focus on customer and developer success through rapid product innovation and go-to-market efforts.”

In conjunction with the funding, the Boston-based company has appointed Steve Rodda as CEO. Rodda replaces Richard Li, the company’s co-founder, who remains on the executive leadership team as chief product officer.

Most recently, Rodda was CEO at API design platform provider Stoplight. Prior to Stoplight, Rodda was chief operating officer at Cherwell Software. He has also held product leadership roles at SolarWinds and LOGICnow.

Headquartered in New York City, Insight Partners is a global software investor. As of June 30, the firm has more than $80 billion in regulatory assets under management.