Harness has raised 240m in Series E funding by Goldman Sachs Alternatives, which puts the company at a valuation of approximately 5.5b. The focus of the investment is to extend AI-based capabilities, enhance global operations and automate the delivery of enterprise software.
AI software delivery platform- AI delivery tools are enlarged.
The round has a primary capital of $200 million and a tender offer by the investors of IVP, Menlo Ventures and Unusual Ventures, amounting to $40 million. Harness will improve its artificial intelligence systems applied to testing, deployment, verification and governance to allow engineering teams to optimize the development cycles.
The AI software delivery platform is focused on DevOps.
Harness aims at scaling AI infrastructure including autonomous agents, contextual insights and automated orchestration to eliminate bottlenecks in DevOps processes. Such upgrades are aimed at large organisations that need high efficiency and reliability when it comes to software delivery pipelines.
Artificial intelligence software delivery systems drive expansion across the globe.
Harness projects itself to exceed 250 million recurring revenue annually in 2022, having over 1,000 enterprise engineering teams users. The company is ever growing in North America, Europe, Middle East and Asia Pacific with growing operations in India in terms of R&D and engineering recruitment.
Increasing demand indicated in AI software delivery platforms.
The investment underscores the increased need of AI-native platforms that are in a position to handle intricate delivery lifecycles. Harness will bridge the code creation and the production deployment by overcoming security, optimisation and compliance challenges.
FAQ(Frequently Asked Questions)
Q: What is the point of new financing of Harness?
The $240M will help in increasing the innovation of AI, growth in the world and enhancement of automatic delivery frameworks.
Q: Who led the Series E round?
Other major investors supported the round which was headed by the Goldman Sachs Alternatives.
Q: What will be the advantages of this development to the users?
Users will be able to count on even more powerful AI-based workflow automation, accelerated delivery cycles and improved DevOps.
AI software delivery platform Harness raised $240 M backing aggressive growth