Alkeon Capital Led Series C Financing Round Following a Year of Explosive Demand for Harness Software Delivery Platform
San Francisco, CA Jan. 14, 2021 Harness, the leading platform for software delivery, today announced that it has raised $115 million in financing, reaching a valuation of $1.7 billion in just three years after launching from stealth. Alkeon Capital led a $85 million Series C round, along with new investors Battery Ventures, Citi Ventures, Norwest Venture Partners, Sorenson Capital, and Thomvest Ventures. The total funding includes a $30 million Series B-1 funding round, led by existing investors Menlo Ventures, IVP, and Unusual Ventures. With a total of $195 million in financing to date, Harness will use the funding to grow its world-class engineering team, support global expansion plans, and extend its intelligent software delivery platform vision.
In today's digital economy, every company is a software company. The COVID-19 pandemic cemented this as it forced organizations around the globe to invest in new tools and digital capabilities to support millions of employees' shift to remote work. Demand for these tools will continue to increase: IDC projects that the DevOps market will reach $15 billion in 2023, up from $5.2 billion in 2018. For the world's 25 million software developers, a platform that empowers them to deliver code quickly, reliably and efficiently is more valuable than ever.
Since 2017, Harness' vision has been to create such a software delivery platform: based on empowering developers with self-service and intelligent automation so they can simplify how they build, test, deploy, and optimize code. The company has emerged as a leader helping its customers weather technical and financial challenges brought on by the pandemic. Last year, LogMeIn standardized self-service CI/CD pipelines across engineering teams with Harness Continuous Delivery, saving over a million dollars in engineering productivity. An eDiscovery software company, Relativity, also saved significant costs in annualized cloud spend using Harness' cloud cost management module Continuous Efficiency.
Our goal is to create an intelligent software delivery platform that allows every company in the world to become as good in software delivery as the likes of Google and Facebook, said Jyoti Bansal, CEO and co-founder of Harness. Our investors believe strongly in our vision of an end-to-end platform for software delivery, and we look forward to partnering with these leading investment firms as we build Harness into the next major software company.
The fundraise comes on the heels of remarkable growth for Harness in 2020, with a 200% increase in ARR over 2019 and a 246% growth in customers over 2019, with new sign ons including National Bank of Canada, UK Home Office, and Citigroup. Additional company accomplishments in 2020 include:
Hosting its first industry event {unscripted} with more than 4,000 software professionals, with several new platform announcements including Continuous Integration Enterprise, Continuous Features, and next-gen modules for Continuous Delivery and Continuous Verification.
Acquired leading open-source player Drone.io, entering Harness into the open-source community as the first self-service CI/CD platform for cloud and container-native applications.
New strategic partnerships across 18 countries and strong enterprise brands including AWS, Google Cloud, AppDynamics, and HashiCorp.
Named an IDC Innovator for tools accelerating Platform-as-a-Service value for developers
Named #6 on Glassdoor's Best Places Work List for 2021
Named #17 on Forbes Top 50 Best Cloud Companies to Work For
Named a Top 50 Hot Startup to work for by LinkedIn
In addition to today's news, Harness announced two executive hires to continue the company's fast customer growth and global expansion: Manuel Manny Ruiz as SVP Customer Success, and Stephen Line as VP EMEA Field Sales and GM. Manny has been in customer-facing technical roles for 20 years and was most recently a VP of Customer Success with MobileIron, Sauce Labs, and InfluxData. Stephen joined Harness from Cloudera, where he was the first sales rep hired in the region and had the privilege of leading the EMEA organization as they scaled the business to 70 sellers in 18 countries with customers in 65 countries.
Supporting Quotes:
Abhi Arun, Managing Partner at Alkeon Capital
Harness is revolutionizing the software delivery landscape with an end-to-end platform that is accelerating the rate at which businesses around the world can innovate and compete, said Abhi Arun, Managing Partner at Alkeon Capital. Cutting edge companies like AWS are deploying new software every 12 seconds. With Harness, this capability is now available to the Global 2,000 and to any software developer who is looking to scale and accelerate their time-to-market. Jyoti is a once in a generation entrepreneur, who has built a multi-billion dollar franchise in the DevOps market, previously with AppDynamics for APM, and now with Harness for CI/CD and software delivery.
Neeraj Agrawal, General Partner at Battery Ventures
Battery is extremely excited once again to partner with Jyoti and the team at Harness as they look to redefine the DevOps landscape, said Neeraj Agrawal, a general partner at Battery Ventures. Jyoti's vision and ability to execute is second to none. I firmly believe Harness will disrupt the software delivery market, and become a category leader, just like we experienced back in 2014 with our AppDynamics partnership.
Matt Carbonara, Managing Director of Venture Investing at Citi Ventures
Enterprises must invest in their developers' productivity by bringing in tools and services that enhance programming workflows, explained Matt Carbonara, Managing Director of Venture Investing at Citi Ve
Most recent headlines
17/02/2025
TVBEurope talks to the team who brought a piece of broadcasting history back to life on BBC Wales last night
By Jenny Priestley
Published: February 14, 2025 ...
17/02/2025
Eligible studios will receive the relief directly from their local authorities, with no need to submit a claim
By Matthew Corrigan
Published: February 17, 20...
17/02/2025
As DEI initiatives come under pressure in the USA, supporters of Rise, which promotes diversity in the media and entertainment sector, discuss the continuing im...
17/02/2025
EIB Global loan will partially fund SES's continued O3b mPOWER medium earth orbit (MEO) fleet expansion enabling additional capacity worldwide. O3b mPOWER s...
15/02/2025
At Nielsen, Business Resource Groups (BRGs) play a critical role in nurturing a ...
15/02/2025
Innovation to empower creativity: Explore the latest in Lightroom
Rob Christensen February 15, 2025
0 Comments
Whether you want to remove distracting ...
15/02/2025
Wisycom, a worldwide leader in RF technology and provider of wireless solutions, announces a new distribution agreement with EQUAPHON. An Argentinian profession...
15/02/2025
DPA Microphones, the leading manufacturer of high-quality microphone solutions, is pleased to welcome Nicholas Nick Mariano and Vincent Vince Divine to the ...
15/02/2025
Tuxera, a leading provider of quality-assured file systems and networking solutions, will showcase how Tuxera Fusion SMB enables unprecedented performance for m...
15/02/2025
Bitmovin's latest Video Developer Report indicates an increasing role of AI, the slow adoption of next-generation codecs, and continuing challenges when it ...
15/02/2025
When Michelin Enterprises set out to promote its prestigious Hotel Guide in the new Sleepless in the Kitchen , campaign, veteran German/Slovenian gaffer Robert...
15/02/2025
Formula E, the world's first all-electric racing series, revolutionizing motorsport with cutting-edge technology and a commitment to sustainability has sele...
15/02/2025
Agile Content, a global leader in TV and video technology solutions, announces its rebranding to AgileTV.
The transition to AgileTV stems from a commitment to ...
15/02/2025
Hiltron Communications will promote the latest additions to its range of satellite communication products, systems and supporting services at GovSatCom 2025. Th...
15/02/2025
Following the success of the original Airglow Booklight, DoPchoice debuts a new addition to their inflatable line the Float. This lightweight, inflatable, round...
15/02/2025
LAS VEGAS Marshall Electronics has announced that it will debut its newest camera controller, the RCP Plus, at the 2025 NAB Show at Booth N2649 between April 5 ...
15/02/2025
ATLANTA Gray Media has named Blake Sebo as the next general manager of KTUU and KYES, Gray's NBC and CBS affiliates in Anchorage, Alaska....
15/02/2025
KOKKEDAL, Denmark DPA Microphones will feature its new CORE+ technology for distortion-free microphone sound at the 2025 NAB Show, April 5-9, in Las Vegas....
15/02/2025
SWANSEA, U.K. QuickLink will launch StudioPro-NDI and StudioPro-3, two new models of its QuickLine StudioPro video production platform, at the 2025 NAB Show, Ap...
15/02/2025
Live From 2025 NBA All-Star Game Weekend: After 25 Years, Turner Sports All-In F...
15/02/2025
NASCAR Driver Cam on Max Embraces Cloud-Based Workflow for 2025 Season Chris Brown of WBD Sports says Mobii will play key part in delivering signals from the tr...
14/02/2025
Last month, we officially launched the Spotify Partner Program, a powerful new m...
14/02/2025
From an island off the coast of Lutruwita to the global stage in France SBS & ...
14/02/2025
The future of electro-optical/infrared (EO/IR) land systems is evolving so that ...
14/02/2025
Here are 5 reasons why you should attend ISE 2025
Discover more about Calrec: Learn more about Calrec's legacy of innovation in broadcast audio solutions ...
14/02/2025
World Radio Day: On the same wavelength
By Graham Murray, International Sales Manager at Calrec
To mark World Radio Day, Calrec's International Sales Ma...
14/02/2025
DALLAS and TYSONS, Va. Tegna has concluded a broadcast rights agreement that makes Tegna's KFAA in Dallas the exclusive local television partner of the Dall...
14/02/2025
Amazon's Prime Video has released a new app for Apple TV that the streamer said delivers an improved streaming experiences with faster scrolling, improved s...
14/02/2025
CLEVELAND Telos Alliance announced a software update for its Axia Quasar XR and SR line of audio-over-IP (AoIP) mixing consoles and will show the offering at th...
14/02/2025
Puget Systems Returns to HPA Tech Retreat 2025 with New Analysis Tools for Puge...
14/02/2025
Glass Animals: Tour of Earth Uses Blackmagic Live Production Workflow
Brie Clayton February 14, 2025
0 Comments
80six deploys Blackmagic URSA Broadcas...
14/02/2025
A dispute between Paramount and Youtube TV that would have pulled CBS stations and Paramount's cable channels from the streaming service has been temporaril...
14/02/2025
Colourist Deidre (Dee) McClelland details how she helped shape the distinct look and feel of whimsical Oscar-nominated stop-motion film, Memoir of a Snail
By C...
14/02/2025
BitFire said it intends to introduce forward-looking services that simplify the launch of live production workflows, and enhance real-time collaboration
By Jen...
14/02/2025
The claim by the liquidators is the latest twist in the ongoing saga of the companys collapse at the end of 2021
By Matthew Corrigan
Published: February 14, ...
14/02/2025
A carriage dispute between YouTube TV and Paramount could come to a head today (Feb. 13), with the virtual pay TV provider threatening to pull all of the progra...
14/02/2025
ENGLEWOOD CLIFFS, N.J. LG Electronics USA has opened a new in-house, state-of-the-art virtual production studio at its 360,000-square-foot North American headqu...
14/02/2025
NEW YORK In a bid to help local broadcasters find new ways of monetizing their content, the Coalition for Innovative Media Measurement (CIMM) and TVB have relea...
14/02/2025
WASHINGTON Three Democratic U.S. Senators have sent a stern letter blasting FCC Chair Brendan Carr for the weaponization of the agency for attacking broadcast...
14/02/2025
Years after launching the streaming service Apple TV+ in November of 2019, Apple has finally released a version of its steaming app for Android devices....
14/02/2025
FOOTHILL RANCH, Calif. Red Digital Cinema will make its V-RAPTOR [X] and KOMODO-X camera systems available with Nikon's premier Z Mount, providing filmmaker...
14/02/2025
DAYTONA, Fla. The Fox Sports production of this year's Daytona 500 will see the addition of a few new tech elements and the continued unfolding of the broad...
14/02/2025
Watch Bryson Battles Blind Audition on The Voice Get a Four-Chair Turn Michael Bubl said the Boston Conservatory at Berklee musical theater senior might have...
14/02/2025
2025 Daytona 500: FOX Sports Looks To Ride Super Bowl LIX Momentum Into NASCAR S...
14/02/2025
14 Feb 2025
VEON's Kyivstar and the Come Back Alive Foundation Raise USD 2....
14/02/2025
Max Renews THE PITT, Starring Noah Wyle, For A Second Season
Max
Warner Bros. Television Group
The Pitt
New Episodes Of The Medical Drama From John...
14/02/2025
This year, Technicolor proudly celebrates 110 years of shaping the magic of cinema pioneering color, visual effects, and innovation that bring unforgettable l...
14/02/2025
NBA All-Star: More Games, More Teams, More Music, More Sound From the Court Turner Sports' team will deploy familiar tech to capture all the audio By Dan D...
14/02/2025
LIV Golf Continues To Innovate With Drones, Data-Driven Graphics, and All-Access...
Alkeon Capital Led Series C Financing Round Following a Year of Explosive Demand for Harness Software Delivery Platform
