OAKLAND — LaunchDarkly, a feature management platform software teams use to build better software faster, has raised $54 million in additional funding led by Bessemer Venture Partners from their Century Fund for growth-stage companies. Other investors include Threshold Ventures, Redpoint Ventures, Uncork Capital, Vertex Ventures and Bloomberg Beta. LaunchDarkly has received a total of $130 million in funding to date.
Companies like IBM, TrueCar, and fuboTV are using LaunchDarkly to control feature lifecycles, eliminate risk from deployment processes, and increase efficiency throughout development cycles.
“LaunchDarkly pioneered the category of feature management and has quickly become the de facto standard to reliably deploy software at scale,” 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 company served more than 1 trillion features flags a day for more than a thousand customers, an increase of 500% over 2018. The spike was driven by the increasing pressure companies are experiencing to move quickly, innovate faster, and deliver exceptional user experiences. This demand is expected to continue as more teams strive to deliver these results without sacrificing 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.”