BOSTON, Feb. 1, 2022 /PRNewswire/ — Jellyfish, the pioneer Engineering Management Platform that helps engineering leaders align engineering work with strategic business goals, announced today that it has raised $71 million in a Series C round of funding led by Accel, Insight Partners, and Tiger Global with participation from Wing Venture Capital and previous investors. With this latest investment, Jellyfish plans to accelerate its mission of elevating engineering leaders from executors to influencers of business strategy by scaling all functions in 2022.
As all companies transform into software companies, they need visibility into the software that gets built to ensure that it aligns with the priorities of the business. The most powerful way for companies to achieve this is to put data and insights in the hands of engineering leaders. Jellyfish's Engineering Management Platform provides complete transparency into engineering organizations, the work they do, and how they operate.
"Jellyfish created the Engineering Management Platform category and is the first and only product to answer executive questions about what is happening in the engineering organization. The company brings transparency and enables data-driven decision making for engineering leaders across industries," said Matt Gatto, Managing Director at Insight Partners. "We're excited to continue our partnership with the Jellyfish team as they continue to grow and scale up."
In 2021, Jellyfish more than tripled its revenue, with hundreds of new companies like Priceline, PagerDuty, and Hootsuite using the platform to gain insights into their engineering teams' work and ensure that work provides as much value as possible for their customers. To capture this growing demand, the Jellyfish team has tripled in size and is poised to extend that growth.
"Jellyfish transforms engineering leaders from tactical executors into strategic contributors, by giving them the tools to lead the conversation and execute operational components," said Ping Li, Partner at Accel. "Today every company is a software company, and this ability to contribute data and insights from their team is more important than ever."
Jellyfish is the pioneer Engineering Management Platform that enables engineering leaders to align engineering work with strategic business objectives. By analyzing engineering signals and contextual business data, Jellyfish provides complete visibility into engineering organizations, the work they do, and how they operate. Companies like Mastercard, Toast, Bazaarvoice, and Zoominfo use Jellyfish to optimize the allocation of engineering resources to focus their teams on what matters most to the business.
Accel is a global venture capital firm that is the first partner to exceptional teams everywhere, from inception through all phases of private company growth. Atlassian, Bumble, CrowdStrike, DJI, Facebook, Fiverr, Flipkart, Freshworks, Qualtrics, Slack, Spotify, Squarespace, Tenable, and UiPath are among the companies Accel has backed over the past 35+ years. We help ambitious entrepreneurs build iconic global businesses. For more, visit www.accel.com or www.twitter.com/accel.
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit www.insightpartners.com or follow us on Twitter @insightpartners.
About Tiger Global
Tiger Global Management is an investment firm focused on private and public companies in the internet, software, and financial technology sectors. Since 2001, Tiger Global has invested in hundreds of companies across more than 30 countries, including investments ranging from Series A to pre-IPO. The firm aims to partner with dynamic entrepreneurs operating market-leading companies in its core focus areas. Tiger Global's investments have included JD.com, UiPath, Stripe, Databricks, Bytedance, Snowflake, Facebook, Alibaba, Procore, Chime, Blend, Peloton, Attentive, LinkedIn, Flipkart, and Toast.