Atlassian rival Linear raises $82M at $1.25B valuation

Linear, a San Francisco-based enterprise software company, has successfully raised $82 million in a Series C funding round led by Accel. This investment round also saw contributions from notable firms such as 01A, Sequoia, Seven Seven Six, and Designer Fund. As a result, Linear's valuation has soared to $1.25 billion, bringing its total funding to approximately $134.2 million, as reported by Crunchbase. The company specializes in creating tools that assist developers in managing software bugs, feature requests, and product development, while also integrating AI for coding support. With a growing customer base of over 15,000, including well-known organizations like OpenAI, Scale AI, and Perplexity, Linear has demonstrated impressive growth, boasting a 280% increase in profits over the past year. CEO Karri Saarinen shared with Reuters that the newly acquired funds will be directed towards enhancing Linear's product offerings and attracting larger enterprise clients. Currently, Linear employs around 80 people, many of whom work remotely, reflecting the modern workforce's shift towards flexible work arrangements.