Comcast Ventures leads round with new investors Microsoft’s M12 Ventures, Atlassian, ServiceNow, and 01 Advisors, as sales growth tops 2.4x
REDWOOD CITY, CA, August 25, 2020 – Split, the leading feature delivery platform, today announced $33 million in Series C funding to address the growing global demand for feature flags. The new funding comes as enterprises accelerate digital transformation amid rapid economic change and transition to impact-driven software development.
Led by Comcast Ventures, the round included participation from existing investors Accel, Lightspeed Venture Partners and Harmony Venture Partners. Investors Dick Costolo and Adam Bain of 01 Advisors, Microsoft’s venture fund M12, Atlassian and ServiceNow also participated, bringing the total amount of capital Split has raised to $60 million.
“Based upon a deep belief in the importance of developer solutions, we have been tracking Split’s product and the team’s commercial progress during the past 18 months,” says Dave Zilberman, managing director at Comcast Ventures, who joins Split’s Board with this investment. “Split’s data integrations and enterprise functionality set it apart for enterprise-grade feature flagging and experimentation that allows software features to be measured by the business impact they make.”
Founded in 2015, Split recognizes that software is at the heart of every enterprise, and its mission is to empower product engineering teams to deliver features that have a direct and measurable impact on the business. Since then, it has emerged as the leading enterprise feature delivery platform by ensuring every feature creates a positive impact, bringing together feature flags with a data platform that can integrate into any data pipeline.
Split has experienced a year of unprecedented growth. In the last year, the company has more than doubled its sales, doubled its customer base and now serves more than one trillion feature flags monthly to more than one billion users through its platform.
“The recent global health crisis created by COVID-19 has shifted business online, driving the demand for digital products and software. More than ever, enterprises need to deliver digital services with an expected impact,” said Brian Bell, CEO of Split Software. “We provide them the ability to release product features quickly and with maximum business impact, helping engineering teams to deliver innovative products while also improving their development cadence.”
The new funding will be used to accelerate product leadership, bring to market additional data integrations, add developer workflow integrations with leading tools and expand enterprise sales and customer success teams.
Split President and Co-Founder Trevor Stuart said, “This investment unlocks new opportunities to further integrate with the DevOps and product analytics ecosystem. This is an enormous validation from industry heavyweights that feature delivery is how software will be developed.”
Feature flag usage has spiked recently, due to the acceleration of digital transformation. With teams driven to create value for customers faster, Split’s technology allows engineering teams to immediately understand the impact of new features on applications. Split also helps developers maintain control over the user experience with monitoring and alerting to prevent application failure.
In the past year, Split has launched many industry firsts in its platform. These include:
- Feature Monitoring that alerts engineering teams if a newly released feature creates a spike in errors or degradation of performance
- Approval Flows that improve collaboration and compliance as enterprises adopt feature flags
- Integrations with mParticle, Sentry and Google Analytics that ingest data to support enterprise-scale feature delivery
Company accomplishments:
- Now serving more than one trillion feature flags per month
- Named to the 2019 CNBC Upstart 100
- 2019 SD Times 100 ‘Best in Show’ in Software Development Tools
- Finalist in DevOps Dozen ‘Best DevOps Presentations of the Year’
To learn more about Split or to schedule a demo, please visit www.split.io
Quotes from participating investors:“I know the potential of this market because I’ve lived it before. At Twitter, I saw how rigorous feature management and experimentation unlock product innovation as organizations scale. I’m excited to support Split as they bring their platform to every enterprise software development team,” said Adam Bain, co-founder and managing partner at 01 Advisors.
“Split has distinguished itself by creating an incredible feature delivery platform that accelerates the ability for companies to deliver more value to customers,” said Tiffany To, head of solutions, Agile and DevOps at Atlassian. “We are excited to deepen our partnership with Split through product integrations, so software teams can use our products together seamlessly in their DevOps toolchains.”
“Split’s combination of feature flags, progressive delivery and software experimentation aligns closely with ServiceNow’s Enterprise DevOps vision, which is to scale adoption of DevOps in the enterprise on the promise of rapid and reliable release cadence, quality and business impact,” said RJ Jainendra, vice president and GM, ServiceNow IT Business Management and DevOps.
About Split
Split is revolutionizing software delivery with Impact-Driven Development, ensuring engineering teams reduce development time, mitigate release risk, and focus on the features that solve customer and business problems. Split’s Feature Delivery Platform pairs the speed and reliability of feature flags with data to measure the impact of every feature. Engineering teams at Twilio, Salesforce, LexisNexis, National Geographic, and Qantas trust Split to drive Impact-Driven Development, delivering features that matter with data-driven certainty and measurable impact for their business. Get started for free at www.split.io/signup.