Last two rounds were for the employees. Atlassian raised rounds to allow employees to convert equity into cash, if they so desired. Housing is very expensive in Sydney. Additionally Atlassian paid the taxation bills of their employees as well. In Australia, tax is due to be paid immediately on issuance of equity instead of the fair and reasonable benchmark of upon sale/capital gains. This has since been corrected in legislation but it excludes Atlassian as there are company age (ASIC registration less than x years old) and revenue/valuation limits. See http://generalstandards.co/blog/new-esop/ for details.

Looks like you missed part of the article:

>Atlassian was founded in 2002, but it hasn't taken any outside investment. The last two funding rounds from Accel and T. Rowe Price were done to let employees sell some of their shares, and Atlassian says the cash wasn't used for operations.

But they were bootstrapped and very profitable for several years before taking any funding.