Harness hauls in $60M Series B investment on $500M valuation

TechCrunch | 4/23/2019 | Staff
Goobee (Posted by) Level 4
Click For Photo: https://techcrunch.com/wp-content/uploads/2019/04/GettyImages-697538583.jpg?w=600

Series B rounds used to be about establishing a product-market fit, but for some startups the whole process seems to be accelerating. Harness, the startup founded by AppDynamics co-founder and CEO Jyoti Bansal is one of those companies that is putting the pedal the metal with his second startup, taking his learnings and a $60 million round to build the company much more quickly.

Harness already has an eye-popping half billion dollar valuation. It’s not terribly often I hear valuations in a Series B discussion. More typically CEOs want to talk growth rates, but Bansal volunteered the information, excited by the startup’s rapid development.

Round - IVP - GV - Google - Ventures

The round was led by IVP, GV (formerly Google Ventures) and ServiceNow Ventures. Existing investors Big Labs, Menlo Ventures and Unusual Ventures also participated. Today’s investment brings the total raised to $80 million, according to Crunchbase data.

Bansal obviously made a fair bit of money when he sold AppDynamics to Cisco in 2017 for $3.7 billion and he could have rested after his great success. Instead he turned his attention almost immediately to a new challenge, helping companies move to a new continuous delivery model more rapidly by offering Continuous Delivery as a Service.

Companies - Containers - Cloud - Challenges - Software

As companies move to containers and the cloud, they face challenges implementing new software delivery models. As is often the case, large web scale companies like Facebook, Google and Netflix have the resources to deliver these kinds of solutions quickly, but...
(Excerpt) Read more at: TechCrunch
Wake Up To Breaking News!
Sign In or Register to comment.

Welcome to Long Room!

Where The World Finds Its News!