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Docker, the open-source tool that lets developers build applications faster, has raised $15 million in a new financing round. The funding was led by Greylock Partners and Insight Venture Partners, wrote VentureBeat.

Existing investors Trinity Ventures, Benchmark Capital, and Yahoo co-founder Jerry Yang also participated in the said round. The latest financing brings Docker's total raised capital to $26 million, the report detailed.

Docker was previously known as cloud provider dotCloud. The company changed its focus in October and renamed itself Docker, the report added.

The open-source project was created to provide an easier way for developers to build and run applications. Docker functions like virtual machines or containers that hold pieces of code that are pieced together to form the center of applications. With Docker, developers can simply move around the said containers on their laptops to assemble an application, without the need for revision.

The process of running and building an app is usually time-consuming. However, with the Docker containers, deploying apps is now a very fast process, VentureBeat reported.