4 minute read
When I joined Split almost two years ago, I believed in the vision of this team and its future, and today I’m excited to announce further validation of that vision with Split’s Series D funding, exactly one year after we announced our Series C.
The growth we’ve seen both at Split and within this market sector has been exponential. Our customers and investors have recognized the transformational power of our platform to change the way product development teams build, release and control applications. Our Series D $50 million investment is led by Owl Rock, a division of Blue Owl Capital, with participation from Northgate Capital and existing investors including Accel, Lightspeed Venture Partners, Harmony Partners, Microsoft’s venture capital fund M12, Atlassian Ventures, and ServiceNow. This latest round of investment brings Split’s total funding to $110 million, of which $83 million was raised within the past year.
Since our Series C funding less than a year ago, Split has seen massive growth: our sales have doubled, and our global workforce has grown by over 70%. We intend to use the funds from this latest round to accelerate our growth even more. We recognize three key areas of investment to deliver on these goals: (1) customer success as we continue to provide world-class service and support to over 600 customers including international customers such as ABN AMRO Bank, Qantas, Cazoo, Naranja, Swedbank, Mobiliar, and ABYAT, (2) product innovation to continue to lead the market with enterprise-grade feature delivery and experimentation, and (3) go-to-market functions to bring the power of data-driven software delivery into new markets around the world.
The Future is Experimentation-Powered Innovation
When we started on this journey at Split over five years ago, we believed that software development was changing radically. If it wasn’t clear to business leaders before, the last 18 months have shown us that we’re no longer in a world where software development builds “for the business.” Rather, for enterprises across every industry, software development is the business. Our mission is to enable software development teams to deliver products that have a real and measurable impact on business success.
We believe in a world where speed, control, and impact are the core principles of application development. We know that our customers, and this entire market, expect more than just the ability to move faster and the protection from failed releases. When feature flags are paired with data, software development teams gain insight to monitor the performance and impact of features and unlock the ability to drive innovation through experimentation. Experimentation is the starting point in driving the mindset and the practices that enable transformative business impact. It’s this modern feature delivery platform that is so central to our vision. The feature context and control we provide is central not just to application development but to operations, support, and the business itself.
Today, Split provides the most comprehensive platform for global enterprises to accelerate and control feature delivery and to innovate their way to success through experimentation.
We’re Just Getting Started
I’m so proud to have the support of new investors and am incredibly grateful to our returning investors who continue to champion not just Split, but a future of business that empowers changemakers and enables transformational growth in every enterprise. We’re just getting started on this journey to redefine how engineering teams bring software to market.
Expect to see us continue to lead in this market with industry-firsts, such as our recent Statuses and Rollout Board release to manage and govern the lifecycle of feature flags and our bi-directional integration with Jira, which brings greater transparency into the application development process. Our upcoming integration with Microsoft Azure DevOps will be a time-saver for agile teams. And our dimensional analysis feature will help customers leverage data towards pinpointing the most promising opportunities for future business growth.
With our ambitious plans for growth, we are investing in all functions of our business, from product and engineering to sales, marketing, and customer success. We’re hiring! If you share in our passion to empower engineering teams to build impactful products, join us on the journey. There is a massive opportunity ahead for all of us!