{"id":54571,"date":"2024-05-14T15:56:15","date_gmt":"2024-05-14T19:56:15","guid":{"rendered":"https:\/\/sdtimes.com\/?p=54571"},"modified":"2024-05-14T15:56:15","modified_gmt":"2024-05-14T19:56:15","slug":"harness-raises-150-million-in-new-financing","status":"publish","type":"post","link":"https:\/\/sdtimes.com\/development-platform\/harness-raises-150-million-in-new-financing\/","title":{"rendered":"Harness Raises $150 Million in New Financing"},"content":{"rendered":"<p dir=\"ltr\">Developer platform provider\u00a0<a href=\"https:\/\/www.harness.io\/\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.harness.io\/&amp;source=gmail&amp;ust=1715787419992000&amp;usg=AOvVaw0pP6NnEabm9QQ5AahwfneW\">Harness<\/a> today announced $150 million in financing from Silicon Valley Bank (SVB),\u00a0a division of First Citizens Bank, and\u00a0Hercules Capital, Inc. The investment will be used strategically to support the expansion of the Harness platform, including the addition of new modules, further integrating\u00a0generative AI into the platform,\u00a0and additional investments in the company&#8217;s go-to-market engine.<\/p>\n<p dir=\"ltr\">\u201cAt Harness, we\u2019re building the next generation of intelligent tools and automation to supercharge developer productivity and reduce developer toil,\u201d said Jyoti Bansal, CEO and co-founder of Harness. &#8220;This funding enables our company to continue innovating at a record pace, transforming the software delivery lifecycle for today&#8217;s modern enterprises. Every year, developers waste more than $1 trillion by spending 40%+ of their time working on mundane, non-code-producing work. Our platform empowers software teams to achieve excellence in velocity, quality, efficiency, and governance.&#8221;<\/p>\n<p dir=\"ltr\">This investment comes on the heels of a groundbreaking FY2024, which included expanding our executive team with top-tier talent, achieving strong revenue growth, and significantly enhancing our platform. Key milestones include:<\/p>\n<ul>\n<li dir=\"ltr\">\n<p dir=\"ltr\" role=\"presentation\">Experienced rapid Annual Recurring Revenue (ARR) growth, going from $1M to more than $100M over the past five years.<\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\" role=\"presentation\">Customers executed more than 44 million code deployments with the Harness platform in 2023, more than double the number of deployments completed in 2022.<\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\" role=\"presentation\">Broadened and evolved product offerings by adding 2,800+ new features and enhancements across the Harness platform.<\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\" role=\"presentation\">Introduced <a href=\"https:\/\/www.harness.io\/products\/aida\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.harness.io\/products\/aida&amp;source=gmail&amp;ust=1715787419992000&amp;usg=AOvVaw3AtCG7exyJBaMCRc8L9ZoI\">AIDA<\/a>, a new generative AI assistant integrated directly into all aspects of the Software Delivery Lifecycle.<\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\" role=\"presentation\">Launched four new product modules: <a href=\"https:\/\/www.harness.io\/products\/code-repository\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.harness.io\/products\/code-repository&amp;source=gmail&amp;ust=1715787419992000&amp;usg=AOvVaw3L08t7pnjKua4vxKCA6Ijb\">Code Repository<\/a>, <a href=\"https:\/\/www.harness.io\/products\/internal-developer-portal\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.harness.io\/products\/internal-developer-portal&amp;source=gmail&amp;ust=1715787419992000&amp;usg=AOvVaw3EMC2sA92yD7btj-3vGeU3\">Internal Developer Portal<\/a>, <a href=\"https:\/\/www.harness.io\/products\/infrastructure-as-code-management\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.harness.io\/products\/infrastructure-as-code-management&amp;source=gmail&amp;ust=1715787419992000&amp;usg=AOvVaw3gfeco55dxiGQl1Xfyl_G1\">Infrastructure as Code Management<\/a>, and <a href=\"https:\/\/www.harness.io\/products\/software-supply-chain-assurance\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.harness.io\/products\/software-supply-chain-assurance&amp;source=gmail&amp;ust=1715787419992000&amp;usg=AOvVaw2YAWKEvyBRYL58C8ulFYWa\">Software Supply Chain Assurance<\/a>. These new modules join the existing eight offerings to deliver a powerful, seamlessly integrated software delivery platform. Each module is a best-in-class offering that can be tailored to an organization&#8217;s specific use case and business needs.<\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\" role=\"presentation\">Added new enterprise customers, including Nike, NetApp, MorningStar, and Icelandair.<\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\" role=\"presentation\">Welcomed <a href=\"https:\/\/www.linkedin.com\/in\/cadelatorre\/\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.linkedin.com\/in\/cadelatorre\/&amp;source=gmail&amp;ust=1715787419992000&amp;usg=AOvVaw0VQtWAvIU0bP5sViHxO7QT\">Carlos Delatorre<\/a> as Chief Revenue Officer and <a href=\"https:\/\/www.linkedin.com\/in\/glebbrichko\/\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.linkedin.com\/in\/glebbrichko\/&amp;source=gmail&amp;ust=1715787419992000&amp;usg=AOvVaw0PpXoxdYb4l1bxO9PDcKZU\">Gleb Brichko<\/a> as SVP of Marketing.<\/p>\n<\/li>\n<\/ul>\n<p dir=\"ltr\">Visit <a href=\"http:\/\/www.harness.io\/\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=http:\/\/www.harness.io&amp;source=gmail&amp;ust=1715787419992000&amp;usg=AOvVaw3wl2K0_VXErm4OXiY6lgZR\">www.harness.io<\/a>\u00a0to learn more.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Developer platform provider\u00a0Harness today announced $150 million in financing from Silicon Valley Bank (SVB),\u00a0a division of First Citizens Bank, and\u00a0Hercules Capital, Inc. The investment will be used strategically to support the expansion of the Harness platform, including the addition of new modules, further integrating\u00a0generative AI into the platform,\u00a0and additional investments in the company&#8217;s go-to-market engine.  &hellip; <a class=\"read-more\" href=\"https:\/\/sdtimes.com\/development-platform\/harness-raises-150-million-in-new-financing\/\">continue reading<\/a><!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":540,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"cybocfi_hide_featured_image":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[834],"tags":[10133,16021,11995],"coauthors":[11463],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Harness Raises $150 Million in New Financing - SD Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sdtimes.com\/development-platform\/harness-raises-150-million-in-new-financing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Harness Raises $150 Million in New Financing - SD Times\" \/>\n<meta property=\"og:description\" content=\"Developer platform provider\u00a0Harness today announced $150 million in financing from Silicon Valley Bank (SVB),\u00a0a division of First Citizens Bank, and\u00a0Hercules Capital, Inc. 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