The company was last valued at $1.7B in January 2021. Here are the top-line bullets you need to know.
Harness, a continuous delivery-as-a-service platform provider, has raised $230M in a debt and equity round. The $175M Series D round drew participation from Norwest Venture Partners, J.P. Morgan & Co, and Capital One Growth Ventures, among others. $55M in debt financing was provided by undisclosed investors.
HOW’S THE COMPANY PERFORMING?
- California-based Harness uses AI and ML to help engineering and DevOps teams deploy applications and automatically roll back those that prove to be suboptimal.
- Since September 2021, the company has acquired Lightwing (a consumption-based automation platform) and ChaosNative (a provider of chaos engineering solutions).
- Over the past year, the company states that its ARR has grown by 2x and its employee count by 3x.
- Its customers include eBay, Openbank, Ancestry, Soulcycle, and BetterCloud, among others.
- Harness has offices across the US, India, Ireland, and Serbia.
Source: Harness
WHY DOES THE MARKET MATTER?
- The global continuous delivery market is expected to reach a value of $3.9B by 2023, growing at a CAGR of 18.5%, according to Markets and Markets.
- The increasing demand for app development and deployment automation is contributing to growth in this market.
- Enterprises seeking to improve the development workflow of remote workforces amid the pandemic are turning to continuous delivery solutions.
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