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California-based LaunchDarkly mints $44 Million from Bessemer Ventures

By SiliconIndia   |   Tuesday, March 19, 2019
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LaunchDarkly, a feature management platform based out on California has raised a funding amount of $44 million from new investor Ethan Kurzweil from Bessemer Venture Partners. The funding amount will be used 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.

Edith Harbaugh, Co-founder & CEO, LaunchDarkly, says, “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. 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”.

As companies’ transition to software based world, there is an urgency to move quickly, innovate faster, and deliver exceptional user experiences. LaunchDarkly allows teams to deliver the results without compromising on quality or efficiency. Along with the funding, LaunchDarkly also announces that they will host the upcoming Trajectory conference for software development professionals in Oakland, CA. The conference will bring together innovators who are leading the charge for better development and release processes.

“The sheer speed of innovation today makes it more difficult than ever for enterprises to release product changes quickly and reliably. 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!” says, Ethan Kurzweil, Partner, Bessemer Venture Partners.

Launched in 2014, LaunchDarkly’s development teams control their entire feature lifecycles from concept to launch to value. It has continued to experience rapid growth with more than 700 customers globally namely Microsoft, BMW, IBM, and RyanAir and continued revenue growth year over year. The latest round of funding also saw participation from the existing investors, Redpoint, Vertex Ventures, DFJ, and Uncork Capital.

 

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