Funding round
Harness Series D
Harness, which works in software delivery platform development in San Francisco, raised $175M in a Series D round announced on 26 Apr 2022, led by Norwest, at a $3.70B post-money valuation. 1 firm took part. It is Harness' fourth venture round on record; the one before was a Series C in Jan 2021.
$175M
Amount raised
$3.70B
Post-money valuation
$3.52B pre-money
1
Investors
1 lead
2.2x
Step-up from the Series C
$1.70B in Jan 2021
4.7%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Harness at $3.70B after the new money, 2.2 times the $1.70B of its Series C (Jan 2021). The $175M bought investors about 4.7% of the company. It came 15 months after Harness' Series C. It is 24% of the $730M Harness has raised in the venture rounds on record. Harness raised again 25 months later: a Growth round of $150M in May 2024. Its next priced round, a Series E in Dec 2025, valued it at $5.50B.
Harness' funding rounds
Harness has 6 venture rounds on record. This one is highlighted.
- Series A 24 Oct 2017, led by Menlo Ventures and BIG Labs $20M
- Series B 23 Apr 2019, led by Institutional Venture Partners, GV and ServiceNow Ventures $60M$500M post-money
- Series C 14 Jan 2021, led by Alkeon $85M$1.70B post-money
- Series D this round 26 Apr 2022, led by Norwest $175M$3.70B post-money
- Growth 14 May 2024 $150M
- Series E 11 Dec 2025, led by Goldman Sachs $240M$5.50B post-money
Investors
Who put money in
Norwest led the round.
Lead investor
- Norwest backs 215 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
203 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $100M, and this round was 1.8 times the median. The closest in time, other companies' Series D rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Biofourmis Tech Companies | 26 Apr 2022 | $300M | $1.30B | General Atlantic |
| OneStudyTeam Tech Companies | 21 Apr 2022 | $220M | $4.80B | Altimeter and Coatue |
| Tech Companies | 5 Apr 2022 | $150M | $1.40B | SoftBank Vision Fund |
| Filevine Tech Companies | 14 Apr 2022 | $108M | not disclosed | StepStone Group |
| Tech Companies | 13 Apr 2022 | $100M | $2.60B | Goldman Sachs |
| Tech Companies | 7 Apr 2022 | $100M | $1.20B | Tiger Global and Insight Partners |
| Tech Companies | 28 Apr 2022 | $55M | $1.30B | Silver Lake Waterman |
| Tech Companies | 11 Apr 2022 | $16M | not disclosed | Legend Capital |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Harness raise in its Series D round?
Harness raised $175M in its Series D round, announced in Apr 2022.
Who led Harness' Series D round?
Norwest led it.
What was Harness' valuation at the Series D round?
$3.70B post-money ($3.52B pre-money).
How does it compare with other Series D rounds in Tech Companies?
203 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $100M, and this round was 1.8 times the median.
Did Harness raise again after this round?
Yes: a Growth round in May 2024 of $150M.