LaunchDarkly, a feature management platform that software teams use to build better software faster, today announced $44 million in Series C financing led by new investor Ethan Kurzweil from Bessemer Venture Partners. Existing investors, including Redpoint, Vertex Ventures, DFJ, and Uncork Capital, also participated in the round.
The Series C capital will be invested in growing LaunchDarkly’s feature management platform, which is used by product development teams to control feature lifecycles, eliminate risk from deployment processes, and increase efficiency throughout development cycles. As companies transition to a world built on software, there is an increasing requirement to move quickly, innovate faster, and deliver exceptional user experiences – LaunchDarkly allows teams to deliver these results without sacrificing quality or efficiency.
LaunchDarkly has received a total of $76 million in funding to date.
“Our goal is to help product development teams worldwide, from small teams to huge enterprises, to keep up with the speed of innovation while reducing risk,” said Edith Harbaugh, CEO and co-founder of LaunchDarkly. “We believe the future is built on software, and the additional capital will allow us to further impact the world of feature management and meet the needs of our customers in delivering fast results and excellence to their own customers.”
“In the past year the LaunchDarkly platform has evolved both in scale (we now see over 200 billion feature flag requests per day) and capability– we’ve become a key piece of the puzzle for software teams practicing continuous delivery,” said John Kodumal, CTO and co-founder of LaunchDarkly. “This latest funding will help us scale the platform even further to meet the growing demand we’re seeing in the market and build new functionality to help our customers deliver better software experiences to their customers.”
Since launching in 2014, LaunchDarkly has continued to experience rapid growth with more than 700 customers globally – including Microsoft, BMW, IBM, and RyanAir – and continued revenue growth year over year.
“The sheer speed of innovation today makes it more difficult than ever for enterprises to release product changes quickly and reliably,” said Ethan Kurzweil, partner at Bessemer Venture Partners. “Having invested in developer platform companies for nearly a decade, it was instantly clear that LaunchDarkly has the product and market vision to be the central platform for feature management. We are extremely excited to partner with Edith and the rest of the talented team at LaunchDarkly!”
“The LaunchDarkly platform enabled BMW to go from 0-60 in one Agile Release Cycle”, said Chuck Medhurst, President & GM at BMW Technology. “The ability for BMW to test, develop and deploy variable feature sets across our premium brands, markets and platforms results in delivering the optimal value to our customers!”
This funding also follows LaunchDarkly’s recent announcement that they will host the upcoming Trajectory conference for software development professionals in Oakland, CA April 8-9. The conference will bring together innovators who are leading the charge for better development and release processes. For more information, visit https://trajectoryconf.com.