Jellyfish receives $31.5 million in funding round, empowering the company to boost its engineering management platform
Jellyfish, providers of an Engineering Management platform, announced it raised $31.5 million in a Series B round of funding, allowing the company to leverage this latest investment to accelerate its mission of helping engineering leaders connect their team's day-to-day operations to business priorities.
This latest funding round was led by Insight Partners who was joined by previous investors Accel and Wing Venture Capital.
With COVID-19 contributing to a global transition to remote work, engineering leaders from companies such as DataRobot, Skillsoft, and ZoomInfo turned to the platform to get visibility into what their teams are working on and how it aligns with the priorities, needs, and strategic initiatives of the company.
"Jellyfish's impressive growth signals that there is a crucial market need for an informed, data-driven approach to engineering leadership," said Matt Gatto, Managing Director at Insight Partners, who will join the Jellyfish Board of Directors. "Companies spend millions of dollars on engineering resources with little understanding of where it's being spent or how resources are being allocated. Jellyfish is the clear leader in solving this, and we're excited to partner with them as they seize this massive market opportunity."
The investment allows Jellyfish to scale its customer base as it becomes the Engineering Management Platform of choice for modern technology companies.
With the support of investors Insight Partners, Accel, Wing Venture Capital, Pillar VC, and First Star Ventures, the company plans to expand its team across all areas of the business in 2021.
For more information about this news, visit https://jellyfish.co/.