Harness hits $5.5B valuation with $240M raise to automate AI’s ‘after-code’ gap (techcrunch.com)

AI DevOps tool Harness has achieved a valuation of $5.5 billion following a substantial $240 million Series E funding round, which was led by Goldman Sachs. This marks a significant 49% increase from its previous valuation of $3.7 billion just a year ago, with projections indicating that Harness could exceed $250 million in annual recurring revenue by 2025. The latest funding will help the company expand its research and development efforts, particularly in automating the crucial "after-code" phase of software development—tasks that traditionally consume around 70% of engineering resources. Harness aims to bridge the growing gap in software development workflows, especially as AI accelerates code generation. Its platform uses AI agents and a specialized knowledge graph to automate functions such as testing, verification, and governance, allowing for safer and more efficient deployment processes. The system emphasizes human oversight, ensuring that any AI-generated changes are reviewed before implementation. With over 1,000 enterprise customers already leveraging its technology, Harness is well-positioned to strengthen its market presence and enhance its capabilities, especially in the realms of DevOps and application security—areas that have increasingly overlapped in today’s software landscape.