Silicon Valley founder Jyoti Bansal to step up India play with big tech team
Jyoti Bansal, who sold his first startup AppDynamics to Cisco for $3.7 billion in 2017, plans to more than double the employee count of his current ventures Harness and Traceable in India to 1,000 in three to four years, up from 400 now.
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“Around 60-70% of the product development across both companies happens in India,” Bansal, an alumnus of IIT Delhi, told ET in an interview during his recent India visit. “We hire top-notch software engineers from IITs, IIITs and NITs because this is highly technical stuff that we deal with.”
Harness, which offers a suite of software engineering tools to companies, is valued at $3.7 billion and counts investors like Norwest Venture Partners, JPMorgan, Menlo Ventures and Battery Ventures, among others.
Traceable AI, which offers products to protect software codes from cyberattacks, has picked up $150 million in total funding from the likes of SoftBank Vision Fund and Tiger Global Management.
The teams for Harness and Traceable – both of which are unicorns – are spread across Bengaluru, Delhi-NCR and Hyderabad.
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