Venture Capital News: Jellyfish Announces $12M Series A Funding
BOSTON, MA, Jellyfish has raised over $12 million from preeminent investors Accel and Wing Venture Capital.
Jellyfish, the pioneer Engineering Management Platform, announced today it has raised over $12 million from preeminent investors Accel and Wing Venture Capital. The company has experienced tremendous growth following a worldwide movement to remote work. Revenues have grown over 90% already, and the company is on pace to triple its customer base in 2020. This continued momentum speaks to a significant market need for engineering leaders to have better visibility, drive strategic alignment, and improve performance as more organizations move to remote and distributed workplaces.
Jellyfish is the brainchild of Andrew Lau, David Gourley, and Phil Braden, former engineering and product leaders who faced the challenges of managing growing teams and aligning their work with the strategic direction of the business at companies like Endeca and Groupon. "As engineering organizations scale," said Andrew Lau, the team's CEO, "it becomes increasingly difficult for leaders to keep a pulse on what their teams are working on, whether those things are aligned with the company's strategy, and how these teams are performing." That is especially true of remote and distributed teams, where visibility into the daily work productivity and alignment poses an even greater challenge. "Leaders need a comprehensive picture of their organizations now more than ever. But in a world where software development has become the foundation of modern business, data-driven engineering insights are still scarce."
"Sales and Marketing have data-driven tools like Salesforce and Marketo," explains Patrick Rubeski, VP of Engineering at Buildium, a Real Page Company. "I needed something similar to run the operations of my engineering organization that's distributed across three locations in addition to a remote workforce. We found that only Jellyfish provided the right balance of capabilities, connecting our day-to-day operations up to strategic level metrics with their Allocation Framework."
By aggregating data from engineering tools, or "engineering signals," along with contextual business data and applying intelligence, the Jellyfish Engineering Management Platform (EMP) provides the kind of visibility engineering leaders need to make sure the team is working on the things that are strategically aligned to the business, optimize the team's execution, and deliver results faster.
"Businesses depend on data now more than ever, but they're just scratching the surface," said Accel's Ping Li. "In modern organizations with distributed engineering teams and remote workforces, the need for data-driven visibility and alignment is stronger than ever. Jellyfish takes a unique approach to data-driven engineering to provide that alignment where others cannot."
Jellyfish is the leading Engineering Management Platform (EMP), providing complete visibility into engineering organizations, the work they do, and how they operate. By analyzing engineering signals and contextual business data, Jellyfish enables Engineering leaders to align engineering decisions with strategic business objectives and deliver the right software, efficiently, on time. Companies like Acquia, Toast, and Jobvite use Jellyfish to optimize the process, allocation, and structure of their organizations, and to focus their teams on what matters most to the business.
>> Click here for in-depth research on 9,000+ startups and 5,000+ VC investors
(c) by Massinvestor, Inc. For contact info, please check out our about