Atlassian Rival Linear Secures $82M Funding, Valuation Soars to $1.25B

Linear, a rising star in the enterprise software arena, has successfully closed an $82 million Series C funding round, propelling its valuation to a staggering $1.25 billion. This significant investment, led by Accel, underscores Linear’s growing prominence as a competitor to industry giant Atlassian.

The funding round also saw participation from prominent investors including 01A, Sequoia, Seven Seven Six, and Designer Fund. According to Crunchbase data, this latest infusion brings Linear’s total funding to $134.2 million, solidifying its position as a major player in the software development tools market.

Based in San Francisco, Linear offers a suite of tools designed to streamline software development workflows. Their products assist developers in managing bug triaging, feature requests, product development, and even leveraging AI for coding assistance. The company boasts a customer base of over 15,000, including industry leaders like OpenAI, Scale AI, and Perplexity.

Linear has demonstrated impressive growth, reporting a 280% increase in profits last year. This surge in popularity reflects the increasing demand for efficient and intuitive software development solutions.

CEO Karri Saarinen, in a statement to Reuters, outlined the company’s plans for the new capital. Linear intends to expand its product portfolio and target larger enterprise clients. With a current team of approximately 80 employees, many of whom work remotely, Linear is poised for continued expansion and innovation.

The success of Linear highlights the ongoing disruption in the enterprise software market, with companies like Linear offering alternatives to established players and attracting significant investment in the process.