Total amount raised
$2.8 Billions
Latest funding date
August, 2021
Location
LaunchDarkly has successfully raised significant funding across multiple rounds, with its latest being a Series D. The platform specializes in feature management, offering tools for software development teams to control and optimize their feature releases.
Keep reading to explore the intricacies of LaunchDarkly's fundraising journey and the investors backing this innovative platform.
What Is LaunchDarkly?
Founded in 2014, LaunchDarkly is headquartered in Oakland, California. The company was established by Edith Harbaugh and John Kodumal, who envisioned a platform to revolutionize feature management for software development teams.
LaunchDarkly's platform enables teams to deliver software features gradually and safely, ensuring optimal performance and user experience. The company specializes in feature flags, experimentation, and release management, providing tools that streamline the software delivery process.
With a workforce of 501-1000 employees, LaunchDarkly continues to grow, helping businesses accelerate their cloud journeys and collaborate more effectively with their teams.
How Much Funding Has LaunchDarkly Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: February 2015
- Lead Investors: Alchemist Accelerator, Heavybit
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of the platform.
- Seed Round
- Amount Raised: $2.6M
- Date: June 2015
- Lead Investors: Uncork Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand the team.
- Series A
- Amount Raised: $8.7M
- Date: December 2016
- Lead Investors: Threshold
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product offerings.
- Series B
- Amount Raised: $21M
- Date: December 2017
- Lead Investors: Redpoint
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand market reach.
- Series C
- Amount Raised: $44M
- Date: March 2019
- Lead Investors: Bessemer Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform capabilities and support a growing customer base.
- Venture Round
- Amount Raised: $54M
- Date: January 2020
- Lead Investors: Bessemer Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling and innovate new features.
- Series D
- Amount Raised: $200M
- Date: August 2021
- Lead Investors: Lead Edge Capital
- Valuation at Round: $3 billion
- Motivation Behind the Round: To accelerate growth, scale to more customers, and hire additional engineers.
Total Amount Raised: $330.3M. Current Valuation: $3 billion.
Key Investors
- Lead Edge Capital
- Details: Lead Edge Capital is a growth equity firm that partners with world-class entrepreneurs and exceptional management teams. They provide capital and strategic guidance to help companies scale.
- Investment Focus Areas: Technology, internet, software, consumer, healthcare.
- Notable Investments: Alibaba, Spotify, Uber.
- Bessemer Venture Partners
- Details: Bessemer Venture Partners is a venture capital firm that invests in early-stage companies across various sectors. They have a long history of backing successful startups.
- Investment Focus Areas: Cloud computing, consumer, healthcare, enterprise technology.
- Notable Investments: LinkedIn, Pinterest, Shopify.
- Redpoint
- Details: Redpoint is a venture capital firm that invests in early and growth-stage technology companies. They focus on partnering with visionary entrepreneurs.
- Investment Focus Areas: Early and growth-stage technology companies.
- Notable Investments: Netflix, Stripe, Twilio.
- Threshold
- Details: Threshold is a venture capital firm that invests in early-stage technology companies. They aim to support founders in building transformative businesses.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Box, Doximity, Front.
- Uncork Capital
- Details: Uncork Capital is a seed-stage venture capital firm that invests in technology companies. They focus on helping startups grow from the ground up.
- Investment Focus Areas: Seed-stage technology companies.
- Notable Investments: Eventbrite, Postmates, Fitbit.
What's Next for LaunchDarkly?
LaunchDarkly stands at the cusp of significant growth opportunities, driven by the increasing demand for digital transformation and cloud services. With a $3 billion valuation and a robust customer base, including 22 Fortune 100 companies, the company is poised to scale its core feature management platform and expand globally. The potential to deploy 20 trillion feature flags daily underscores the vast market opportunity ahead.
Future fundraising rounds seem likely as LaunchDarkly continues to accelerate growth and expand its market presence. However, challenges such as educating prospective customers about the benefits of feature management and maintaining rapid growth while scaling operations efficiently remain. Navigating these hurdles will be crucial for sustaining their upward trajectory.
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