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.