We present a concept called the branch-depth of a connectivity function, that generalizes the tree-depth of graphs. Then we prove two theorems showing that this concept aligns closely with the notions of tree-depth and shrub-depth of graphs as follows. For a graph $G = (V,E)$ and a subset $A $ of $E$ we let $λ_G (A)$ be the number of vertices incident with an edge in $A$ and an edge in $E \setminus A$. For a subset $X$ of $V$, let $ρ_G(X)$ be the rank of the adjacency matrix between $X$ and $V \setminus X$ over the binary field. We prove that a class of graphs has bounded tree-depth if and only if the corresponding class of functions $λ_G$ has bounded branch-depth and similarly a class of graphs has bounded shrub-depth if and only if the corresponding class of functions $ρ_G$ has bounded branch-depth, which we call the rank-depth of graphs. Furthermore we investigate various potential generalizations of tree-depth to matroids and prove that matroids representable over a fixed finite field having no large circuits are well-quasi-ordered by the restriction.