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Split Secures $33 Million to Develop Better Software with Data
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.
FREMONT, CA: Split, the leading feature delivery platform, raised $33 million in Series C funding to address the growing global demand for feature flags. The new capital comes as enterprises accelerate digital transformation amid rapid economic change and transition to impact-driven software development.
The round was led by Comcast Ventures, with 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.
The latest funds 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.
“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.”
In the last year, the company has 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.
“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.”
With teams driven to create value for customers faster, Split’s technology enables engineering teams to understand the impact of new features on applications immediately. It also helps developers maintain control over the user experience with monitoring and alerting to prevent application failure.