Linear raises $35M Series B led by Accel
Linear has raised a $35M Series B, led by Accel, with participation from Sequoia Capital, 01Advisors, and some of the world’s most successful entrepreneurs including the founders of Slack, Vercel, and Supercell.
We’re excited to announce that Linear has raised a $35M Series B, led by Miles Clements (Accel), with participation from Stephanie Zhan (Sequoia) and Dick Costolo (01Advisors).
Some of the best product builders and operators are partnering with us and joining the round: Stewart Butterfield (CEO, Slack), Cal Henderson (CTO, Slack), Claire Hughes Johnson (Corporate Advisor and former COO, Stripe), Koen Bok & Jorn van Dijk (Co-Founders, Framer), Christina Cacioppo (CEO, Vanta), Kyle Parrish (VP Sales, Figma), Praveen Neppalli Naga (VPE, Uber), and Ganesh Srinivasan (former CPO, Confluent).
Additionally, several of our current customers became our investors as well, including Guillermo Rauch (CEO, Vercel), Ilkka Paananen (CEO, Supercell), Josh Miller (CEO, Browser Company), Andrew Mason (CEO, Descript), and Immad Akhund (CEO, Mercury).
We’re extremely grateful to work with these industry leaders. Together, we’re excited to continue shaping Linear into the best-in-class project and issue tracking system that teams actually love to use.
Our progress over the past three years
We’ve had quite the momentum since launching and raising our Sequoia-led Series A in 2020.
Linear has evolved to cover more product development workflows, helping companies drive their roadmaps, share project updates, triage incoming bug reports, and get actionable insights from our data tools.
The business has grown significantly and we’ve been able to do it profitably. Linear has been growing & operating profitably since 2021, a year after launching the product. We also have a negative lifetime burn rate (we have more cash in the bank than we have raised from investors). This is a strong sign of long term sustainability.
It’s been amazing to see Linear becoming trusted and used by thousands of companies of all sizes – from public companies to early stage startups. It’s very likely that Linear is powering the companies behind products that you use and love today. Companies such as Cash App, Supercell, The Browser Company, Raycast, Retool, Vercel, Cohere, Substack, Mercury, Runway, Loom and Ramp all build with Linear.
Linear is the tool of choice for modern teams. While some find Linear and start using it from day one, more commonly we see companies switching over from legacy tools. Remote, Replit, Modern Treasury, and Verkada are just a few of the companies that have recently migrated their teams over. The reason these companies are choosing Linear isn’t just the speed, optimized design, or powerful features. It’s the collective result of all of these elements coming together into a better way to build products, where the team can focus on doing the work, not configuring the system.
As we grew from a startup to a 1,000 person company, the tool we were using to manage our work just got more complicated. Every single project management tool we tried fell short—until we tried Linear. Everyone loves using it. It’s fast. It’s so much easier to communicate about issues and projects. We trust Linear as our single source of truth. Our team can focus on what’s actually important: building our product.
Linear has been a lever. It gives our teams everything they need to improve coordination and inspires us to build better products.
With Linear, we finally get a sense for the state of our work and our velocity. The speed with which you can navigate, review and update work is huge. Linear actually helps us to ship on time.
What's next
While this is an exciting milestone, there is still a long journey ahead of us. We are staying focused on our commitment to building magical, high quality software and helping our customers around the world do the same.
Today, we are a team of 50 people and we plan to continue expanding the team very intentionally. One of our core beliefs is that smaller and focused teams achieve better quality results if given the right environment. If you want to be part of the journey, we are hiring.
Lastly, we are incredibly grateful for our customers and the community. We know that so much of where we are today is because of your support and trust. Thank you and we’re looking forward to continue building for you.
Thank you to our investors of this round: Kenneth Auchenberg, Koen Bok, Christina Cacioppo, Miles Clements, Dick Costolo, Jorn van Dijk, Claire Hughes Johnson, Akash Garg, Robert Gentz, Gavin Weigh, Cal Henderson, Immad Akhund, Marianne Vikkula, Krithika Muthukumar, Riku Mäkelä, Josh Miller, Andrew Mason, Henrietta Moon, Kristo Ovaska, Ilkka Paananen, Kyle Parrish, Praveen Neppalli Naga, Anssi Rusi, Guillermo Rauch, Oskari Saarenmaa, Rudi Skogman, Lee Robinson, Ganesh Srinivasan, and Stephanie Zhan.
