Boston-based Jellyfish has raised a $31.5 million funding round led by Insight Partners, the startup disclosed this morning, to expand the adoption of its namesake developer productivity platform.

The round is the latest data point illustrating tech investors’ interest in startups working to make building software more efficient. 

Enterprise software teams split their time between a variety of activities. Engineers not only build features for new applications but also help fix bugs in existing services, assist with answering support requests and perform a variety of other tasks. Jellyfish’s platform gives executives insights about how many resources are invested in each task to inform their business decisions.

A software team lead, for example, can use the platform to check what percentage of the average developer’s day is spent maintaining infrastructure. If Jellyfish shows that maintenance operations are too labor-intensive, the company can prioritize the adoption of infrastructure automation tools to free up more time for writing code. The platform also helps answer higher-level questions, such as if a firm is allocating enough resources to a top-priority project to meet business goals.

Jellyfish is not the first company with a tool for analyzing software teams’ productivity. However, unlike traditional products, its platform doesn’t require developers to spend time manually submitting reports. Jellyfish instead collects data automatically from tools such as GitHub that developers use as part of their work. The startup argues that this approach is not only more convenient for software teams but also results in more accurate information being collected. 

Jellyfish’s approach is catching on. The startup, which counts publicly traded IT monitoring provider New Relic Inc. and Mastercard Inc.’s SessionM analytics unit as customers, says revenues have increased fivefold in 2020. 

“Jellyfish’s impressive growth signals that there is a crucial market need for an informed, data-driven approach to engineering leadership,” said Insight Partners Managing Director Matt Gatto, who is joining Jellyfish’s board as part of the funding round. “Companies spend millions of dollars on engineering resources with little understanding of where it’s being spent or how resources are being allocated.”

Jellyfish said that it will use its latest funding to “expand its team across all areas of the business.” The round follows a $12 million Series A investment from Accel and Wing Venture Capital last May, when the startup disclosed that sales had jumped 90% since January. Jellyfish also said at the time that it was on track to triple the size of its customer base in 2020.

Startups with technology that can improve developers’ productivity have raised significant amounts of funding in recent quarters. Sourcegraph Inc., which provides a code search engine described as “Google for developers,” recently closed a $50 million investment only eight months after its previous round. Snyk Ltd., whose platform helps developers fix code vulnerabilities, secured a $200 million round at a unicorn valuation in September.

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