The fast-growing developer interest in GitLab Inc. and its namesake code hosting platform has not gone unnoticed by the investment community. August Capital, an early backer of several prominent tech firms including Splunk Inc., today led a $20 million funding round into the startup with the help of existing investors Y Combinator and Khosla Ventures.

The cash infusion follows a period of record growth for GitLab that saw its continuous integration software adopted by developers at more than 100,000 organizations around the world. Most of them use the free open-source edition, but a growing number are signing up for the startup’s paid version in order to take advantage of its advanced capabilities. IBM Corp., NASA and The NASDAQ Stock Market are among the household names that rely on the premium version to manage their internal code repositories. GitLab hopes to expand its customer base even further by using today’s investment to finance the development of new value-added features.

The startup most recently upgraded its platform last month when it added a new issue tracer designed to help enterprise developers coordinate their work more effectively. It provides the ability to display outstanding task in a sleek board that can be split into columns based on different activity types, organized using a specialized tagging mechanism and shared among multiple teams. GitLab hopes that the feature will make its repository manager competitive against rivals GitHub Inc. and Atlassian Inc., which both provide issue tracking in their competing offerings.

The playing field should become much more even in the wake of the new funding. Sid Sijbrandij, the co-founder and chief executive and GitLab, will hold a webinar at 1 p.m. Eastern today to discuss the road ahead. Users can register to participate on the startup’s website.

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