Linear Secures $82 Million in Series C Funding at $1.25 Billion Valuation

Linear, a software development and project planning tool provider, has raised $82 million in a Series C funding round, valuing the company at $1.25 billion, reports Reuters. The funding round was led by Accel, with participation from existing investors 01A and Sequoia, as well as new investors Seven Seven Six and Designer Fund.

Linear, known for its streamlined issue-tracking and project management platform, competes with Atlassian's Jira. The company has seen significant growth, with profits increasing by 280% last year and a customer base that includes notable AI companies such as OpenAI, Scale AI, and Perplexity.

The 80-person, remote-first company plans to use the new funding to expand its product offerings and attract larger enterprise customers. Linear's platform is designed to enhance software development workflows with features like a built-in triage inbox for managing software bugs and feature requests, as well as sprint management tools.