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Harness' ability to incorporate AI into its platform shifted the company's fundraising focus to growth equity, co-founder and CEO Jyoti Bansal tells Axios Pro.

Driving the news: The software delivery startup raised a $240 million Series E led by Goldman Sachs at a $5.5 billion post-money valuation.

This interview has been edited for length and clarity.

Axios: When you raised your $150 million line of credit last year, you said that could be your last round. Why did you decide to raise again now?

"Last year, we decided that the debt financing was the most efficient way to finance the business, but now the business has grown more, and we could use equity financing."

"We're not using our debt financing from last year, so it's really that we are swapping the debt financing we did last year with the equity financing."

Can you just walk me through why you think equity financing is better now?

"Last year, where the markets were, where our business was, we thought that was the best cost of capital."

"Now, what we are doing with AI is very, very interesting to a lot of investors. Investor demand is very high. It's how our business is accelerating. We're building more products. We thought it's a good time to do this equity raise."

"We were getting a lot of inbound interest. A lot of people were reaching out to us, wanting to invest in Harness. That morphed into a raise."

The company has done about a dozen M&A deals. Will you continue to be acquisitive with the new financing?

"To build up a strong new capability inside the Harness platform can take 18 months to two years. By doing small acquisitions, we can accelerate that timeline. We will always be open for the right opportunities, for the right teams, right technologies, to come join the Harness platform."

Do you see an IPO as the most likely way? And is there a timeline?

"We do think an IPO is most likely. We are building towards it. It's hard to predict an IPO timeline, so I won't give you a timeline."

"Our business is doing quite well, but where the markets would be [is a factor]. And what size a company has to be for an IPO, that's something we'll figure out. But yes, we are working towards an IPO at some point."

Would you imagine this is your last private raise as a company?

"We don't expect to raise more capital, but time will tell."

Harness CEO talks massive Series E and going public

The software delivery startup raised $240 million at a $5.5 billion valuation.

Photo illustration of Jyoti Bansal next to colorful rectangles and a pattern of Harness logos.

Harness co-founder and CEO Jyoti Bansal. Photo illustration: Axios Visuals. Photo: Courtesy of Harness

Harness&#x27; ability to incorporate AI into its platform shifted the company&#x27;s fundraising focus to growth equity, co-founder and CEO Jyoti Bansal tells Axios Pro.Driving the news: The software delivery startup raised a <a class="gtmContentClick" data-vars-link-text="$240 million Series E" data-vars-click-url="https://www.axios.com/pro/enterprise-software-deals/2025/12/11/harness-goldman-sachs-series-e-software" data-vars-content-id="9c5b657c-0c67-41b8-a0de-e07eadc937d6" data-vars-headline="Harness CEO talks massive Series E and going public" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/pro/enterprise-software-deals/2025/12/11/harness-goldman-sachs-series-e-software" target="_self">$240 million Series E</a> led by Goldman Sachs at a $5.5 billion post-money valuation.

Harness CEO talks massive Series E and going public

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