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LaunchDarkly, an Oakland, CA-based provider of a feature management platform software, used by the software developer teams across the globe to build improved software faster, closed a funding round of $54 million
Fremont, CA: LaunchDarkly, an Oakland, CA-based provider of a feature management platform software, used by the software developer teams across the globe to build improved software faster, closed a funding round of $54 million. The round was led by Bessemer Venture Partners as a part of their Century Fund for companies in the nascent stage of development. The other organizations participated in the round include Threshold Ventures, Redpoint Ventures, Uncork Capital, Vertex Ventures, and Bloomberg Beta. With the continuous vote of confidence, LaunchDarkly has received a total of $130 million as funding to date.
The capital raised will mainly be utilized to address the increased demand for its feature management platform. Companies such as IBM, TrueCar, and fuboTV are using LaunchDarkly to control the lifecycles of the features, eliminate risk from the deployment processes, and maximize the efficiency in all the development stages.
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"LaunchDarkly pioneered the category of feature management and has quickly become the de facto standard to deploy software at scale reliably," says Ethan Kurzweil, partner at Bessemer Venture Partners. "We are excited to support Edith, John, and the LaunchDarkly team as they invest in transforming the way that software is built and launched, allowing companies to be more nimble and product-driven."
In 2019, the LaunchDarkly served more than a trillion features flags a day for at least a thousand customers, resulting in an increase of 500 percent over 2018. The sudden skyrocketing was initiated by the increasing pressure experienced by the companies to scale up quickly, innovate much more, and deliver exceptional user experiences. This demand is expected to continue as the numerous teams are focused on achieving these results without giving up the quality or efficiency.
"Dynamic feature management is rapidly becoming the next big innovation in software development, allowing companies of all sizes to ship code faster with less risk," says Josh Stein, Managing Partner of Threshold Ventures. "It's been amazing to see the impact LaunchDarkly is having, and we're excited to see how the platform and the team continue to grow in 2020."
The company held its first conference, Trajectory Conference, in April 2019, in downtown Oakland. Talks from industry leaders, company heads of Slack, Microsoft, Datadog, AWS, and IBM, were held as part of the conference.
"LaunchDarkly is creating an entirely new category called feature management," says Scott Raney, General Partner at Redpoint Ventures. "Edith, John, and the team are solving some of the most difficult problems developers and product teams face, and we couldn't be more excited to continue on this journey!"
LaunchDarkly plans to continue to invest in the expansion of its team. In 2019, LaunchDarkly grew its side at the headquarters in Oakland, also launched a sales and customer success hub in New York City, and hired sales, customer success, and developer advocates all across North America. In 2020, LaunchDarkly has scheduled to launch its sales offices in Sydney, Australia, and an engineering unit in London, UK.
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