Total amount raised
$109.8 Millions
Latest funding date
08/01/2021
Location
Split Software has successfully raised multiple funding rounds, with the last being a Series D that closed on August 17, 2021. The company has garnered the support of 16 investors, including Northgate Capital and Accel.
Acquired by Harness on May 29, 2024, Split Software continues to innovate in feature management and experimentation. Keep reading to explore the intricacies of Split Software's fundraising journey and the investors backing this dynamic platform.
What Is Split Software?
Split Software, founded in 2015, is a feature delivery platform based in Redwood City, California. The company was established by Adil Aijaz, Patricio Echague, and Trevor Stuart.
Operating in industries such as A/B testing, analytics, and SaaS, Split Software employs between 101-250 people. The platform helps engineering teams build impactful products by combining feature flags with data to measure the impact of every feature.
How Much Funding Has Split Software Raised?
- Seed Round
- Amount Raised: $1.8M
- Date: December 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and develop the initial version of the feature delivery platform.
- Series A
- Amount Raised: $8M
- Date: January 2017
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series B
- Amount Raised: $17M
- Date: February 2018
- Lead Investors: Lightspeed Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
- Series C
- Amount Raised: $33M
- Date: August 2020
- Lead Investors: Comcast Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and expand its market presence.
- Series D
- Amount Raised: $50M
- Date: August 2021
- Lead Investors: Owl Rock Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To innovate the product and accelerate go-to-market functions to meet increasing demand.
Total Amount Raised: $109.8M. Current Valuation: Not publicly disclosed.
Key Investors
- Owl Rock Capital
- Details: Owl Rock Capital is a division of Blue Owl Capital, specializing in direct lending solutions to middle-market companies.
- Investment Focus Areas: Technology, healthcare, industrials
- Notable Investments: Various sectors including technology, healthcare, and industrials
- Northgate Capital
- Details: Northgate Capital is a venture capital and private equity firm that invests across various sectors.
- Investment Focus Areas: Venture capital, private equity
- Notable Investments: Uber, Spotify, Airbnb
- Accel
- Details: Accel is a venture capital firm that invests in early and growth-stage technology companies.
- Investment Focus Areas: Early-stage technology, growth-stage technology
- Notable Investments: Facebook, Slack, Dropbox
- Lightspeed Venture Partners
- Details: Lightspeed Venture Partners is a venture capital firm investing in enterprise, consumer, and health sectors.
- Investment Focus Areas: Enterprise, consumer, health
- Notable Investments: Snap, Nest, GrubHub
- Harmony Partners
- Details: Harmony Partners focuses on growth-stage investments in technology companies.
- Investment Focus Areas: Growth-stage technology
- Notable Investments: Etsy, Vroom, InVision
What's Next for Split Software?
Split Software stands at the cusp of significant growth opportunities, driven by the increasing demand for feature delivery and experimentation platforms. With $50 million raised in Series D funding, the company is poised to innovate its product offerings and expand its global footprint. This funding will enable Split to enhance its platform, ensuring rapid feature releases and data-driven decision-making for software development teams worldwide.
Future fundraising opportunities appear promising, given the substantial recent investments and the involvement of high-profile investors. As Split continues to grow, additional funding rounds could support further product innovation and market expansion. However, the company may face challenges in maintaining the quality and performance of new features while scaling operations to meet global demand. Navigating these challenges will be crucial for Split's continued success in the competitive DevOps landscape.
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