How Much Did Split Software Raise? Funding & Key Investors

Split Software has successfully raised funds over five rounds, with the latest being a Series D round involving multiple investors. The platform offers intelligent feature management, release monitoring, and experimentation tools to help organizations innovate at scale.

Keep reading to explore the intricacies of Split Software's fundraising journey and the investors backing this impactful platform.

What Is Split Software?

Split Software, based in Redwood City, California, operates in various industries including A/B Testing, Analytics, Big Data, Developer Platform, Developer Tools, SaaS, and Software. The company specializes in feature management and experimentation, providing tools that help engineering teams build impactful products.

With an employee count ranging between 101-250, Split Software has been acquired by Harness. The platform is trusted by engineering leaders and has received high customer ratings for its intelligent feature management, release monitoring, and experimentation capabilities.

How Much Funding Has Split Software Raised?

1. Seed Round
   • Amount Raised: USD 1,800,000
   • Date: December 2015
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To kickstart the development of their feature management and experimentation platform.
2. Series A
   • Amount Raised: USD 8,000,000
   • Date: January 2017
   • Lead Investors: Accel
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand the engineering team and accelerate product development.
3. Series B
   • Amount Raised: USD 17,000,000
   • Date: February 2018
   • Lead Investors: Lightspeed Venture Partners
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale the platform and enhance its feature set.
4. Series C
   • Amount Raised: USD 33,000,000
   • Date: August 2020
   • Lead Investors: Comcast Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support the company's growth and development initiatives.
5. Series D
   • Amount Raised: USD 50,000,000
   • Date: August 2021
   • Lead Investors: Blue Owl Capital Corporation
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To execute global growth initiatives and invest in product innovation.

Total Amount Raised: USD 109,800,000. Current Valuation: Not publicly disclosed.

Key Investors

• Blue Owl Capital Corporation
  • Details: Blue Owl Capital Corporation is a leading alternative asset manager that provides capital solutions to middle-market companies. They focus on direct lending and other investment strategies to support business growth.
  • Investment Focus Areas: Middle-market companies, direct lending, capital solutions.
  • Notable Investments: Not publicly disclosed.
• Comcast Ventures
  • Details: Comcast Ventures is the venture capital arm of Comcast Corporation, investing in consumer, enterprise, and frontier technology companies. They leverage Comcast's resources to help portfolio companies grow.
  • Investment Focus Areas: Consumer technology, enterprise technology, frontier technology.
  • Notable Investments: Not publicly disclosed.
• Lightspeed Venture Partners
  • Details: Lightspeed Venture Partners is a venture capital firm that focuses on early-stage investments in the enterprise, consumer, and health sectors. They have a global presence and a strong track record of successful investments.
  • Investment Focus Areas: Enterprise technology, consumer technology, health sectors.
  • Notable Investments: Snap, Nest, GrubHub.
• Accel
  • Details: Accel is a venture capital firm that invests in early and growth-stage technology companies. They have a history of backing some of the most successful tech companies globally.
  • Investment Focus Areas: Software, consumer technology, enterprise technology.
  • Notable Investments: Facebook, Slack, Dropbox, Spotify.
• Northgate Capital
  • Details: Northgate Capital is a private equity and venture capital firm that invests in growth-stage companies across multiple sectors. They provide strategic support to help companies scale.
  • Investment Focus Areas: Technology, healthcare, consumer goods.
  • Notable Investments: Not publicly disclosed.

What's Next for Split Software?

Split Software stands at the cusp of significant growth opportunities, driven by its recent $50 million Series D funding. The company plans to channel these funds into product innovation and expanding its global reach, aiming to meet the increasing demand for feature delivery and experimentation tools. This strategic focus positions Split to capitalize on the growing trend of data-driven software development, enhancing its platform to support real-time monitoring and decision-making.

Future fundraising appears promising as Split continues to scale its operations and expand its market presence. The company's robust growth trajectory and strong investor backing suggest potential for additional funding rounds to support ongoing innovation and international expansion. However, challenges such as managing rapid growth, maintaining high-quality service, and staying competitive in a dynamic market will require careful navigation. By leveraging its partnerships and focusing on continuous improvement, Split is well-positioned to overcome these hurdles and drive future success.

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