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Harness Raises $150 Million in New Financing

Developer platform provider Harness today announced $150 million in financing from Silicon Valley Bank (SVB), a division of First Citizens Bank, and Hercules Capital, Inc. The investment will be used strategically to support the expansion of the Harness platform, including the addition of new modules, further integrating generative AI into the platform, and additional investments in the company’s go-to-market engine.

“At Harness, we’re building the next generation of intelligent tools and automation to supercharge developer productivity and reduce developer toil,” said Jyoti Bansal, CEO and co-founder of Harness. “This funding enables our company to continue innovating at a record pace, transforming the software delivery lifecycle for today’s modern enterprises. Every year, developers waste more than $1 trillion by spending 40%+ of their time working on mundane, non-code-producing work. Our platform empowers software teams to achieve excellence in velocity, quality, efficiency, and governance.”

This investment comes on the heels of a groundbreaking FY2024, which included expanding our executive team with top-tier talent, achieving strong revenue growth, and significantly enhancing our platform. Key milestones include:

  • Experienced rapid Annual Recurring Revenue (ARR) growth, going from $1M to more than $100M over the past five years.

  • Customers executed more than 44 million code deployments with the Harness platform in 2023, more than double the number of deployments completed in 2022.

  • Broadened and evolved product offerings by adding 2,800+ new features and enhancements across the Harness platform.

  • Introduced AIDA, a new generative AI assistant integrated directly into all aspects of the Software Delivery Lifecycle.

  • Launched four new product modules: Code Repository, Internal Developer Portal, Infrastructure as Code Management, and Software Supply Chain Assurance. These new modules join the existing eight offerings to deliver a powerful, seamlessly integrated software delivery platform. Each module is a best-in-class offering that can be tailored to an organization’s specific use case and business needs.

  • Added new enterprise customers, including Nike, NetApp, MorningStar, and Icelandair.

  • Welcomed Carlos Delatorre as Chief Revenue Officer and Gleb Brichko as SVP of Marketing.

Visit www.harness.io to learn more.

The post Harness Raises $150 Million in New Financing appeared first on SD Times.



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