LaunchDarkly, a US-based software management tool developer backed by media company Bloomberg, closed a $21m series B round on Monday.
The round included venture capital firm Redpoint Ventures and Vertex Ventures, the VC fund network overseen by the Singaporean government.
Founded in 2014, LaunchDarkly has created a feature management platform that helps developers build software more efficiently.
The platform includes tools that let developers and companies flag lines of code that control specific features which can then be turned on or off as needed both in the testing stage and when the software has been commercially released.
The company will use the funding to grow its engineering, customer success and category education teams. It raised $8.7m in a December 2016 series A round backed by Bloomberg’s corporate venturing unit, Bloomberg Beta, as well as VC firms DFJ and SoftTech VC.
Bloomberg Beta, SoftTech, 500 Startups, Cervin Ventures and a range of angel investors had previously supplied $2.6m in seed funding for LaunchDarkly in 2015.
Edith Harbaugh, CEO and co-founder of LaunchDarkly, wrote in a blog post: “LaunchDarkly has an incredibly broad base of cross-industry customers, from banking to insurance to shipping to e-commerce to hardware.
“The appeal of feature management is truly game-changing. Instead of code being a static object that is changed only once a year or quarter, suddenly code is a living, evolving power. Developers can build, marketing can launch, product can iterate and sales can sell.”