Split, a platform that allows companies to experiment with new product features, has raised $17 million in a series B round of funding led by Lightspeed Venture Partners, with participation from Accel Partners and Harmony Partners.
Founded in 2015 out of Redwood City, California, Split offers a feature experimentation platform designed to help engineering and product teams test new features with a select, focused group of end users. This allows them to release multiple versions of the same feature simultaneously, or perhaps test new features for groups of customers on a specific subscription plan. Split gives companies data and analytics to measure the impact of planned improvements and upgrades.
Split had previously raised around $10 million in funding, and with another $17 million in the bank, the company said it plans to grow its engineering team and “expand its go-to market operations” across the U.S. The latest round comes just a few months after Split officially launched its product to the public.
The broader software testing market is a $34 billion industry globally, and many companies exist to ensure that products perform as they should when they ship to the public. Just this week, two ex-Googlers launched Mabl to bring machine learning to software testing. However, Split nestles in a different segment in that it’s less about bug-finding than it is about identifying and fine-tuning core improvements before they’re considered for inclusion in a final product. Similar companies include A/B testing platform Optimizely, which had raised around $150 million in funding before it was acquired by investment firm Vista Equity Partners six months ago.
“What gives any organization a competitive advantage today is access to their real-time metrics — the ability to monitor, target, and correlate these metrics and to extract value and insights from them,” noted Lightspeed Venture Partners’ Arif Janmohamed. “Split is building the strongest team in the industry to reimagine what experimentation means for agile software delivery and data-driven product development.”
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