US-based software delivery platform developer Harness has secured $115m in a series C round featuring Citi Ventures, the corporate venturing arm of financial services provider Citi.
Investment adviser Alkeon Capital led the round, which included Battery Ventures, Norwest Venture Partners, Sorenson Capital and Thomvest Ventures.
The figure includes a $30m series B-1 round co-led by Menlo Ventures, IVP and Unusual Ventures, and the round pushed the company’s overall funding to $195m.
Harness has built an artificial intelligence and machine learning-infused platform that helps software engineers with the software delivery process, avoiding mistakes and reducing time by automating software deployment and quality control.
The company has acquired new customers including Citi, National Bank of Canada and the UK’s Home Office in the past year. It will use the cash to increase the size of its engineering team, expand its business internationally and further develop its platform.
Harness’s valuation reached $1.7bn in the round, more than tripling the valuation at which it completed its $60m series B round in 2019.
GV and ServiceNow Ventures, respective corporate venturing units for internet and technology group Alphabet and enterprise software supplier ServiceNow, co-led the 2019 round with IVP, investing with Menlo Ventures and Unusual Ventures.
The company had received $20m in series A funding from Menlo Ventures and Big Labs, the startup studio owned by Harness co-founder and CEO Jyoti Bansal, 2017. Unusual Ventures was also identified as a returning investor in the series B round.
