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

Linear, an enterprise software maker that competes with many of Atlassian’s products, on Tuesday announced that it raised $82 million in a Series C funding round led by Accel.

The round, which also had participation from 01A, Sequoia, Seven Seven Six, and Designer Fund, values Linear at $1.25 billion and brings the company’s total raised to $134.2 million, according to Crunchbase.

Linear, based in San Francisco, builds products designed to help developers triage software bugs and feature requests, manage product development, and tap AI for coding assistance. The startup claims to have more than 15,000 customers, including OpenAI, Scale AI, and Perplexity, and it says that its profits grew 280% last year.

CEO Karri Saarinen told Reuters that Linear’s new funding will be put toward expanding the company’s product portfolio and attracting larger enterprise clients. Linear currently has a team of around 80 people, many of whom work remotely.