Harness, a San Francisco, California-based Continuous Delivery-as-a-Service platform for updating software, as per recent reports this week, has just closed a Series B funding round, raising $60 million in investment funding. The recent funding round was led by Institutional Venture Partners (IVP), a Menlo Park, California-based private equity investment firm; GV (formerly Google Ventures), a Mountain View, California-based venture capital investment arm of Alphabet Inc.; and ServiceNow Ventures, a Santa Clara, California-based venture arm of ServiceNow; and was participated by Harness’ existing investors Menlo Ventures and Unusual Ventures.
The San Francisco-based Continuous Delivery-as-a-Service platform plans on utilizing this recent investment to expand its R&D division and recruit new professionals for its growing engineering, sales, and customer success teams.
As a software business scales, engineering teams and software professionals at these businesses are under an immense and unprecedented pressure to provide updated software to users, with zero margins for error. The company understands this and thus aims at delivering the continuous delivery accessible to every business, enabling the software teams to tread quickly by completely eliminating the mere chance of failed deployments, providing them a complete peace of mind. The company employs advanced machine learning (ML) and AI technologies to automate the process of software deployment, analyze the quality of software, and automatically roll back it if anything goes wrong or is out of the ordinary.
“We were not actively seeking new investment at this point, but our strong market traction created heavy investor interest in Harness, resulting in a fast-moving and heavily oversubscribed Series B round,” said Jyoti Bansal, CEO and co-founder of Harness. “We are thrilled to partner with world-leading investment and technology firms — IVP, GV, and ServiceNow — as we continue to build Harness into the next major software platform company.”
“Harness represents a tremendous opportunity to create the next multi-billion dollar company. The team has a powerful vision to redefine the software delivery process using automation and machine learning, and the company’s market momentum is significantly beyond what we typically see in companies at this stage,” mentioned Steve Harrick, General Partner at IVP. “We were fortunate to be investors in Jyoti Bansal’s previous company AppDynamics, and believe that Jyoti and the all-star team assembled at Harness have the ability to revolutionize software delivery within the enterprise.”
“Harness delivers artificial intelligence to DevOps with thoughtful automation of key components of the software engineering workflow,” stated Adam Ghobarah, General Partner at GV. “With a mission driven by Jyoti Bansal and an incredibly strong founding team, Harness has the right team and technology in place to tackle some of the most complex challenges in software development and delivery.”