US-based software coding software developer LaunchDarkly secured $200m on Tuesday in a series D round featuring Bloomberg Beta, the venture capital firm sponsored by media group Bloomberg, at a $3bn post-money valuation.
Lead Edge Capital led the round, which also included Top Tier Capital Partners and Insight Venture Partners as well as existing investors Bessemer Venture Partners (BVP), Redpoint Ventures, Threshold Ventures and Uncork Capital.
LaunchDarkly provides a platform that allows developers to gradually deploy new software features, standardise their releases at scale, accelerate their addition to the cloud and collaborate more effectively with business teams.
The company plans to use the funding to further develop its platform, accelerate customer acquisition across verticals, boost global expansion and scale up its engineering, marketing and business development teams.
LaunchDarkly collected $54m in a January 2020 funding round that included Bloomberg Beta. The round was led by BVP, which deployed capital through its Century Fund, and also backed by Threshold Ventures, Redpoint Ventures, Uncork Capital and Vertex Ventures.
The company had raised $44m in a March 2019 series C round led by BVP and backed by Redpoint Ventures, Vertex Ventures, DFJ and Uncork Capital.
Redpoint Ventures and Vertex Ventures invested in a $21m series B round for LaunchDarkly in 2017 having previously backed the company’s $8.7m series A round, which was led by DFJ and backed by Bloomberg Beta and Uncork a year earlier.
Bloomberg Beta, Uncork Capital, 500 Startups, Cervin Ventures and various angel investors had provided LaunchDarkly with $2.6m in seed capital in 2015.