Seven months after Jyoti Bansal sold AppDynamics to Cisco for $3.7 Bn, he is back with another venture-startup studio Bansal Innovation Group (BIG) Labs. In Bansal’s words, BIG Labs is found with “the goal of researching multiple large problem areas, prototyping and validating unique technology solutions to those problems, establishing product-market fit, and if all of that is successful, building new companies into high-growth startups that could potentially be the tech industry’s next billion-dollar companies.” Simultaneously BIG Labs has also invested in the $20 Mn Series A round of Jyoti’s venture – Harness.io, a Continuous Delivery-as-a-Service platform, along with Menlo Ventures.
Jyoti Bansal has personally put in $50 Mn in BIG Labs. Elucidating further about BIG Labs in a LinkedIn post, he stated,
At BIG Labs, we will experiment with new technologies in order to find viable products that can ultimately sustain new businesses. Many of those experiments will not meet our bar, but those that do will be launched as new companies.
As Bansal has been a software engineer throughout, naturally BIG Labs’ focus will be on helping software professionals. Bansal added, “I have practised as a software engineer for years, and have built and run a company that sold products to software engineering and IT teams. So I have a natural affinity for the challenges and problems software engineers and IT teams face. Many of the problems we will tackle at BIG Labs will address making life easier for the world’s 20 Mn “software professionals” – e.g., software developers, testers, operations engineers, security engineers, data scientists, product managers, UX designers, and project managers.”
Jyoti Bansal is also seeking co-founders for new companies and experiments. He says,
“Here’s the core of what I’m looking for: a compelling problem, a large market, a viable path to building a billion dollar company, a sustainable technology moat, and a co-founding team that I can see myself working with for the next ten years.”
Harness.io: First Venture To Be Funded By Jyoti Bansal’s BIG Labs
Meanwhile, BIG Labs has made its first investment in the first BIG Labs project emerging from stealth – Harness, a Continuous Delivery-as-a-Service platform designed to help engineering teams deliver code to end users faster through the use of artificial intelligence. Menlo Ventures has led the $20 Mn Series A round for Harness.io along with participation from BIG Labs. Matt Murphy, partner at Menlo Ventures is joining the board of Harness.
Jyoti Bansal heads the company as CEO and co-founder and has founded the company just nine months after selling AppDynamics to Cisco. He is joined by Rishi Singh, former DevOps platform architect at Apple, as CTO and co-founder.