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Atlassian rival Linear raises $82M to expand developer tools and target enterprise adoption
Enterprise software maker Linear Orbit Inc., a competitor to Atlassian Corp., has reportedly raised $82 million in new funding to expand its product offering, including artificial intelligence-assisted bug triage and sprint tools, and to go after larger enterprise customers.
According to Reuters, the round was raised on a valuation of $1.25 billion.
Founded in 2019, Linear offers an issue-tracking and project management platform for product and engineering teams. The platform offers a minimalist, keyboard-driven interface that prioritizes efficiency and clarity over complexity and is built with speed, elegance and developer-first workflows in mind.
Linear’s platform is designed to allow teams to manage their software development lifecycle through streamlined issue tracking, sprint planning via “Cycles” and structured long-term initiatives. It can be used in place of traditional project tools such as Atlassian’s Jira and offers tight integrations with GitHub, GitLab, Slack, Figma and other services to reduce friction and boost productivity.
A notable feature of Linear’s platform is its Triage system, a feature that serves as an intelligent intake funnel for incoming issues and feature requests. The feature allows teams to route, prioritize and delegate tasks efficiently without overwhelming their backlogs.
The platform also includes built-in analytics and progress tracking tools to give organizations visibility into team velocity, project milestones and bottlenecks.
Linear claims more than 15,000 customers and said its profit grew 280% last year, though it didn’t reveal an absolute number. Notable Linear customers include OpenAI, Scale AI Inc., Perplexity AI Inc., Cursor Technologies Inc., CashApp, Monzo Bank Ltd. and Mercury Technologies Inc.
The Series C round was reportedly led by Accel Partners LP, with existing investors 01A Advisors and Sequoia Capital Operations and new investors Seven Seven Six and Designer Fund also participating.
“There are a lot of vendors that are pushing a lot of unwanted AI slop into the market and the Linear team instead is clued into what users are looking for and then providing them something they want,” Miles Clements, a partner at Accel, told Reuters.
The funding takes the amount raised by Linear to $134.2 million, based on data from Tracxn.
Image: Linear
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