News Summary

Harness, an AI DevOps startup founded by Jyoti Bansal, has reached a $5.5 billion post-money valuation after securing $240 million in Series E funding. The investment, led by Goldman Sachs with participation from IVP, Menlo Ventures, and Unusual Ventures, will be used to further automate the ‘after-code’ processes such as testing, security checks, and deployment. Harness aims to address the bottleneck in software development by leveraging AI to automate these tasks, which traditionally consume significant engineering time. The company plans to expand its R&D efforts, hire additional engineers, and improve its AI systems’ accuracy. Harness, which has over 1,000 enterprise customers, intends to grow its international presence and strengthen its U.S. market operations.