SAN FRANCISCO (Diya TV) — Jyoti Bansal left India more than two decades ago with a few hundred dollars, big dreams, and a passion for building software. Today, he is a new billionaire and the founder of two companies valued at more than $1 billion each. His latest venture, Harness, just raised $240 million at a $5.5 billion valuation, cementing his place among the most successful tech entrepreneurs of his generation.
Bansal grew up in a small town in India’s Rajasthan state. As a child, he helped his father with a farming machinery business. Education became his way forward. He earned a spot at the Indian Institute of Technology in Delhi, where he studied computer engineering.
While at IIT, Bansal became inspired by entrepreneurship. A visit from Microsoft founder Bill Gates and stories about Hotmail co-founder Sabeer Bhatia fueled his ambition. At 21, he moved to California to chase opportunity. He arrived with little money and no clear path to entrepreneurship. Visa rules forced him to work for others first. Bansal spent seven years as an engineer at three enterprise software companies while waiting for a green card. He became a U.S. citizen in 2016.
In 2008, Bansal founded AppDynamics after receiving his green card. The company focused on spotting and fixing software problems in real time. Early customers included fast-growing tech firms like Netflix, which relied on stable systems to stream video without interruptions. Raising money was not easy at first. After early rejections, Bansal secured a $5.5 million Series A round. He spent nearly a decade scaling the company. AppDynamics grew to more than $200 million in annual revenue.
In January 2017, the company prepared for an initial public offering. Days before the IPO, Cisco made an offer. Bansal chose to sell instead. Cisco bought AppDynamics for $3.7 billion. The business now generates more than $1 billion in annual revenue for Cisco. After the sale, Bansal tried to retire. He traveled the world and crossed off major items from his bucket list. At just 39, he felt restless. He missed building companies.
“I realized I enjoy creating more than relaxing,” he told Forbes.
That insight led to his second major venture. In 2017, Bansal founded Harness, an AI-powered software delivery platform. Harness focuses on the hardest part of software development. Writing code is only the beginning. Testing, securing, and deploying that code takes much more time. Harness uses artificial intelligence to automate those steps.
The platform helps companies make sure their software works as intended and follows regulations. Customers include United Airlines and Citi. Bansal compares the product to a physical safety harness that protects workers at great heights.
As generative AI creates more code, the need for testing has exploded. Harness aims to solve that problem. The company now runs its core delivery business along with 16 related products. One of them is Traceable, a cybersecurity platform that protects application interfaces.
Harness announced a $240 million Series E funding round led by Goldman Sachs Alternatives, Institutional Venture Partners, and Menlo Ventures. The raise values the company at $5.5 billion. Forbes estimates Bansal’s net worth at $2.3 billion, based on his stake in Harness and proceeds from AppDynamics.
The San Francisco-based company has raised $570 million to date. It employs more than 1,200 people and operates under a hybrid work model. Revenue is growing about 50% year over year. Investors say Bansal has always thought long-term. He pitched Harness with a decade-long vision to reach $1 billion in revenue. That plan now appears on track.
Bansal believes America’s strength lies in attracting global talent. He says limiting immigration harms innovation. His own journey reflects that belief. He is not done yet. His next goal remains unfinished business from his past. “We want to IPO,” Bansal said. “We didn’t get to do it last time.” For a founder who could not sit still in retirement, building the future of AI-driven software delivery feels like the perfect challenge.
