Linear Raises $82M: A Rising Atlassian Rival

Linear Secures $82 Million in Series C Funding

Linear, a software company specializing in enterprise-level applications and a competitor to Atlassian, revealed on Tuesday the completion of an $82 million Series C funding round.

Accel spearheaded the investment. Additional participation came from firms including 01A, Sequoia, Seven Seven Six, and Designer Fund.

Valuation and Total Funding

According to data from Crunchbase, this funding round establishes Linear’s valuation at $1.25 billion. The company’s cumulative funding now totals $134.2 million.

Focus on Developer Workflows

Headquartered in San Francisco, Linear develops tools intended to streamline the process of managing software bugs and feature requests for developers.

Their product suite also supports product development management and incorporates AI for coding support.

Customer Base and Growth

Linear reports a customer base exceeding 15,000, encompassing prominent organizations such as OpenAI, Scale AI, and Perplexity.

The company experienced a substantial 280% increase in profits during the previous year.

Future Plans

Karri Saarinen, Linear’s CEO, communicated to Reuters that the newly acquired funds will be allocated to broadening the company’s product offerings.

A key objective is also to attract and serve larger enterprise-level customers.

Team and Structure

Currently, Linear employs approximately 80 individuals, with a significant portion of the team operating remotely.