Harness Wrangles Up $3.7B Valuation After $230M Raise As Developer Tools Market Stays Hot>
Nasdaq – Chris Metinko
Earlier this morning we wrote about Switzerland-based SonarSource raising a $412 million round that valued the âclean codeâ platform at $4.7 billion. Not to be outdone, San Francisco-based software delivery platform Harness closed a $230 million Series D at a valuation of $3.7 billionâmore than doubling its valuation from January 2021.

Harnessâ platform uses machine learning to allow developers to release applications into production faster by detecting the quality of deployments and automatically identifying failed ones.

After years of receiving around $2 billion or $3 billion annually in investment, VC-backed developer tool companies saw an outpouring of dollars from VCs last yearâtaking in nearly $9.3 billion, according to Crunchbase.

Harness was co-founded by Jyoti Bansal, who sold his previous company, AppDynamics, for $3.7 billion to Cisco Systems right before it was to go public in 2017.
Link: https://www.nasdaq.com/articles/harness-wrangles-up-%243.7b-valuation-after-%24230m-raise-as-developer-tools-market-stays-hot