- Leading feature delivery platform Split announced that it has raised $33 million in Series C funding
Leading feature delivery platform Split announced that it has raised $33 million in Series C funding for addressing the growing global demand for feature flags. This round of funding comes as enterprises accelerate digital transformation amid rapid economic change and transition to impact-driven software development.
This round of funding was led by Comcast Ventures and 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 joined the round. This brings the total amount of funding Split has raised to $60 million.
Launched 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. And 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. And 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.
This round of 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.
Feature flag usage has been spiking recently due to the acceleration of digital transformation. And 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.
Over the past year, Split has launched many industry firsts in its platform. These include 1.) Feature Monitoring that alerts engineering teams if a newly released feature creates a spike in errors or degradation of performance 2.) Approval Flows that improve collaboration and compliance as enterprises adopt feature flags and 3.) Integrations with mParticle, Sentry and Google Analytics that ingest data to support enterprise-scale feature delivery.
KEY QUOTES:
“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. 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.”
— Brian Bell, CEO of Split Software
“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. 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.”
— Dave Zilberman, managing director at Comcast Ventures — who joins Split’s Board with this investment
“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.”
— Split President and Co-Founder Trevor Stuart
“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.”
— 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. 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.”
— Tiffany To, head of solutions, Agile and DevOps at Atlassian
“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.”
— RJ Jainendra, vice president and GM, ServiceNow IT Business Management and DevOps
