Harness Raises USD 115M In New Financing , Attains Unicorn Status With USD 1.7 Billion Valuation

San Francisco-based B2B startup Harness, with a R&D focus in Bengaluru, on Friday said it has brought $115 million up in financing, arriving at a valuation of $1.7 billion in three years of its launch. 

The investment further incorporates an $85 million Series C round driven by Alkeon Capital, along with participation from Battery Ventures, Citi Ventures, Norwest Venture Partners, Sorenson Capital, and Thomvest Ventures. The total funding also includes a $30 million Series B-1 funding round, led by existing investors Menlo Ventures, IVP, and Unusual Ventures. 

With a total of $195 million in financing till date, the platform will use the funds to grow its engineering team, support global expansion plans, and extend its intelligent software delivery platform vision. The total subsidizing incorporates a $30 million Series B-1 financing round, driven by existing investors Menlo Ventures, IVP, and Unusual Ventures. 

With Harness, Co-founder Jyoti Bansal, intends to create a savvy software delivery platform that permits each organization to become as great in software delivery as any semblance of Google and Facebook. "Our investors believe strongly in our vision of an end-to-end platform for software delivery, and we look forward to partnering with these leading investment firms as we build Harness into the next major software company,” Jyoti said.

The startup reports that it has accomplished a 200 percent expansion in ARR in 2019, and a 246 percent growth in the number of clients, with new sign-ins including National Bank of Canada, UK Home Office, and Citigroup.

Harness targets making a software delivery platform dependent on enabling engineers with self-administration and automation, so they can rearrange how they assemble, test, send, and streamline code. Before this subsidizing round, Harness had brought $60 million up in Series B and $20 million in Series An of every 2019 and 2017, separately