Harness Raises $115 million in Fresh Round of Investment; Valuation Reaches $1.7 Billion

San Francisco based software delivery platform Harness has raised $115 million in financing, to reach a valuation of $1.7 billion. $85 million was raised in the series C round of funding led by Alkeon Capital along with new investors Battery Ventures, Citi Ventures, Norwest Venture Partners, Sorenson Capital, and Thomvest Ventures. The funding includes $30 million raised by Harness in series B-1 round from existing investors Menlo Ventures, IVP, and Unusual Ventures. Harness has collectively raised $195 million funding till date.

Founded in 2017, Harness is an end-to-end platform for intelligent software delivery designed to provide a simple, safe and secure way for engineering and DevOps teams to release applications into production. The company that has a delivery center in Bangalore works for names such as National Bank of Canada, UK Home Office, and Citigroup.

"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.

According to a company statement Harness experienced 200 percent increase in ARR over 2019 and a 246 percent growth in customers over 2019. In 2020 Harness forayed into the open-source community with its acquisition of open source player The startup also successfully forged new strategic partnerships across 18 countries and strong enterprise brands including AWS, Google Cloud, AppDynamics, and HashiCorp.

"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 fresh infusion of capital will be leveraged by Harness to grow its world-class engineering team, support global expansion plans, and extend its intelligent software delivery platform vision said a company statement.