Total amount raised
$575 Millions
Latest funding date
Location
Harness has successfully raised significant funding through multiple rounds, positioning itself as a key player in the DevOps and software delivery space. The platform offers a comprehensive suite of tools designed to modernize DevOps, improve developer experience, secure software delivery, and optimize cloud spend.
Keep reading to explore the intricacies of Harness's fundraising journey and the investors backing this innovative platform.
What Is Harness?
Founded in 2017, Harness is headquartered in San Francisco, California. The company was established by Jyoti Bansal and Rishi Singh.
Harness offers a Continuous Delivery-as-a-Service platform that automates various processes for engineering and DevOps teams. Their platform helps accelerate cloud initiatives and adoption of tools like Kubernetes and Amazon ECS.
With a workforce of 501-1000 employees, Harness continues to innovate in the DevOps and software delivery space, providing solutions that modernize DevOps and optimize cloud spend.
How Much Funding Has Harness Raised?
Series A
- Amount Raised: $20M
- Date: October 2017
- Lead Investors: BIG Labs, Menlo Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and develop its Continuous Delivery-as-a-Service platform.
Series B
- Amount Raised: $60M
- Date: April 2019
- Lead Investors: Google Ventures, IVP
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and expand market reach.
Series B (Extension)
- Amount Raised: $30M
- Date: January 2020
- Lead Investors: IVP, Menlo Ventures, Unusual Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and enhance platform capabilities.
Series C
- Amount Raised: $85M
- Date: January 2021
- Lead Investors: Alkeon Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support rapid growth and expand the customer base.
Series D
- Amount Raised: $175M
- Date: April 2022
- Lead Investors: Norwest Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and integrate new technologies.
Debt Financing
- Amount Raised: $55M
- Date: April 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expenses and strategic initiatives.
Secondary Market
- Amount Raised: Not publicly disclosed
- Date: May 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
Debt Financing
- Amount Raised: $150M
- Date: May 2024
- Lead Investors: Silicon Valley Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform, integrate generative AI, and invest in the go-to-market engine.
Total Amount Raised: $575M. Current Valuation: Not publicly disclosed.
Key Investors
- Silicon Valley Bank
- Details: Silicon Valley Bank, now a division of First Citizens Bank, provides commercial and private banking services. It is known for supporting technology, life sciences, and other innovation sectors.
- Investment Focus Areas: Technology, life sciences, healthcare, venture capital.
- Notable Investments: Known for serving over two-thirds of the companies listed on the Forbes 2023 Cloud 100 list.
- Hercules Capital
- Details: Hercules Capital is a specialty finance company that provides senior secured venture growth loans. It focuses on high-growth, innovative venture capital-backed companies.
- Investment Focus Areas: Technology, life sciences, sustainable and renewable technology.
- Notable Investments: Committed over $20 billion to more than 650 companies since its inception.
- Norwest Venture Partners
- Details: Norwest Venture Partners is a global venture capital and growth equity investment firm. It has a diverse portfolio across various sectors.
- Investment Focus Areas: Technology, healthcare, financial services, consumer products.
- Notable Investments: Spotify, Uber, BlueJeans.
- Google Ventures
- Details: Google Ventures, also known as GV, is the venture capital investment arm of Alphabet Inc. It provides seed, venture, and growth-stage funding to technology companies.
- Investment Focus Areas: Technology, life sciences, consumer products, transportation.
- Notable Investments: Uber, Slack, Nest.
- IVP
- Details: IVP (Institutional Venture Partners) is a later-stage venture capital and growth equity firm. It focuses on high-growth technology companies.
- Investment Focus Areas: Technology, media, internet, enterprise IT.
- Notable Investments: Twitter, Dropbox, Snap.
What's Next for Harness?
Harness stands at the cusp of significant growth opportunities, driven by the expansion of its platform and the integration of generative AI. With a recent $150 million investment, the company is poised to enhance developer productivity and reduce non-code-producing work, tapping into a market where developers waste over $1 trillion annually. The potential to attract more enterprise customers and introduce new product modules further amplifies its growth trajectory.
Future fundraising opportunities seem promising, given the company's rapid growth and substantial backing. Harness's impressive annual recurring revenue growth and the introduction of innovative features like the generative AI assistant AIDA suggest that additional rounds of funding or even an IPO could be on the horizon. However, challenges such as maintaining the pace of innovation, integrating new technologies effectively, and competing in a crowded market remain. Ensuring customer satisfaction and platform scalability will be crucial as Harness continues to expand.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay’s platform to access comprehensive fundraising data on companies like Harness and gather other critical business insights.
Sign up for free on Clay and start transforming your sales approach today.
