Harness Blazes Past 400% ARR Growth Fueled by Market Demand for Continuous Delivery
SAN FRANCISCO, Feb. 12, 2020 /PRNewswire/ -- Harness, the industry's first Continuous Delivery-as-a-Service platform, today announced record company momentum with more than 400% year-over-year growth in annualized recurring revenue. The accelerating growth was fueled by the signing of many high-profile companies like Discover Financial, Nationwide Insurance, Ancestry, StubHub, and Kohl's.
Today's businesses spend more than $2 trillion each year writing code across over 20 million developers worldwide, yet the path to deliver code into production continues to be a problem solved with custom scripts and manual oversight. The smallest fraction of that market represents a multi-billion dollar industry. Harness fills this gap and empowers developers by automating the entire continuous delivery process, implementing machine learning for protection when deployments fail, and equipping users with enterprise-grade security. Customers' average deployment time is reduced by 99% and the number of people required to oversee releases reduced by more than 70%.
Coming on the heels of a $60 million Series B funding round and $500 million valuation in April 2019, Harness's performance includes:
- Not only ballooning 400% in terms of ARR, but also experiencing 150% Net Revenue Retention from existing customers as Harness became both addictive and indispensable for resource-strapped DevOps and engineering teams.
- Expanding the executive team with appointments including former Head of Platform at Zoom, Thiya Ramalingam, as SVP of Engineering.
- Expanding partnerships with leading companies including AWS, Google Cloud, Cisco, and AppDynamics.
- Increasing headcount from 100 employees a year ago to 230 employees across offices in San Francisco, Mountain View, Dallas, London, and Bangalore.
- Releasing innovative new features including Continuous Insights for greater visibility into software delivery performance across engineering and development teams.
- Maintaining 100% CEO approval rating on Glassdoor.
- Significant traction in the Europe region, including a new sales team and several six-figure customer wins.
"The demand for continuous delivery has never been greater as more and more businesses are looking for ways to improve existing software for decision-making, innovation and market value," said Jyoti Bansal, co-founder, and CEO of Harness. "Our success speaks to the talent and dedication of our team, as well as our customers and partners. We look forward to continuing our momentum in 2020, as we launch new products and build out existing offerings that will help customers improve and automate their application deployment while saving money and manpower."
About Harness
Based in San Francisco, Harness is the industry's first Continuous Delivery-as-a-Service platform designed to provide a simple, safe and secure way for engineering and DevOps teams to release applications into production. Harness uses machine learning to detect the quality of deployments and automatically roll back failed ones, saving time and reducing the need for custom scripting and manual oversight. Harness customers include NCR, Kohl's, Discover Financial, Nationwide Insurance, and McAfee. Follow Harness on Twitter or try Harness for free at harness.io.