LaunchDarkly

LaunchDarkly sells feature flagging and release control software that lets engineering teams turn features on and off in production, run experiments and roll back problem releases without redeploying code. It was founded in 2014 by Edith Harbaugh, previously an engineering leader at TripIt and Concur, and John Kodumal, who served as chief technology officer. The company is headquartered in Oakland, California, with an office in London, and says it serves more than 5,500 organizations, including about a quarter of the Fortune 500.

In June 2015 LaunchDarkly raised a $2.6 million seed round led by SoftTech VC. Series A and Series B amounts are not stated in the sources reviewed here. In March 2019 it closed a $44 million Series C led by Bessemer Venture Partners partner Ethan Kurzweil, with Redpoint, Vertex Ventures, DFJ and Uncork Capital, bringing total funding to $76 million. In January 2020 Bessemer led another $54 million, through its Century Fund, with Threshold Ventures, Redpoint Ventures, Uncork Capital, Vertex Ventures and Bloomberg Beta, taking the total to $130 million. On August 10, 2021, LaunchDarkly announced a $200 million Series D led by Lead Edge Capital, with Top Tier Capital Partners, Insight Partners, Bessemer, Redpoint, Threshold, Uncork Capital and Bloomberg Beta. That round valued the company at $3 billion, three times its January 2020 valuation, and brought total funding to about $330 million.

LaunchDarkly remains private and independent. Dan Rogers became chief executive in February 2023; Harbaugh returned as chief executive in August 2025, when chief revenue officer Marcus Holm was promoted to president. In April 2025 the company acquired Highlight, an observability startup, to support what it calls guarded releases. On August 6, 2026, it said it had passed $200 million in annual recurring revenue, growing 25% year over year. At the time of the Series D it reported more than 2,000 customers, including 22 of the Fortune 100.

For investors, LaunchDarkly is a long-hold developer tools company that created its own category. Seed investors from 2015 have now held their positions for more than eleven years without a liquidity event. Bessemer led back-to-back rounds in 2019 and 2020 before Lead Edge Capital set the 2021 price at $3 billion. Measured against the $200 million in ARR reported in 2026, the 2021 price equals 15 times current recurring revenue, a useful reference point for holders marking the position five years after the last priced round.