Harness Raises $230M to Hire New Talent, Hits $3.7B Valuation
Harness, an AI-powered software delivery platform, announced Tuesday it raised $230 million in Series D funding. This new round of capital brings the company’s total valuation to $3.7 billion — more than double what it was at the close of its last funding round in January of 2021.
The Series D round was led by Norwest Venture Partners with participation from J.P. Morgan, Capital One Ventures, Splunk Ventures, Adage Capital Partners, Balyasny Asset Management, Gaingels and Harmonic Growth Partners, as well as existing investors. The round is made up of $175 million in equity and $55 million in debt financing.
Harness’ platform provides simple, safe and secure application delivery for engineering and DevOps teams. By utilizing machine learning, the platform can run quality checks on deployments and automatically roll back failed ones. This means teams don’t have to spend time on custom scripting or manual oversight, saving them time and resources.
“In today’s software-fueled economy, enterprises rely on their software development teams to innovate quickly,” Harness CEO and co-founder Jyoti Bansal said in a statement. “We will continue to provide developer teams with the complete software delivery solution they need to deliver innovative, secure software at scale while delivering the developer experience leading teams require.”
Harness plans to use its new funding to hire more team members and expand its platform. Currently, the company is hiring for over 150 positions across departments and office locations. Harness is headquartered in San Francisco with offices all over the world.
This funding announcement follows a year of record growth for Harness. Last year the company doubled its ARR, added nearly 500 employees to its team, added four new modules and over 100 new features and facilitated over 17 million annual deployments.