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Atlassian Rival Linear Raises $82 Million at $1.25 Billion Valuation

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Linear, an enterprise software startup offering development and project planning tools, announced a successful $82 million Series C funding round, valuing the company at $1.25 billion. The round was led by venture capital firm Accel, with participation from existing backers 01A and Sequoia, as well as new investors Seven Seven Six and Designer Fund.

The 80-employee, remote-first company competes directly with Atlassian’s popular project management tool Jira. Linear reported a 280% profit increase last year and serves over 15,000 customers, including notable AI-focused companies such as OpenAI, Scale AI, and Perplexity.

CEO Karri Saarinen emphasized that Linear’s software targets specific software development workflows rather than broad customization, helping users avoid being overwhelmed by complex tools. Key features include a triage inbox for bug and feature requests and sprint management to streamline development cycles. The company also provides AI management capabilities, allowing AI to collaborate as a team member in software projects, reflecting the growing integration of AI in development.

Miles Clements, partner at Accel and Linear investor, praised the company’s focus on customer needs over flashy AI gimmicks, noting that many vendors flood the market with unwanted AI features, whereas Linear delivers practical solutions tailored to users.

Linear plans to use the fresh capital to expand its product lineup and attract larger enterprise clients.

RevenueCat Raises $50 Million Series C to Expand Subscription Platform Amid AI and Gaming Boom

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RevenueCat, a subscription management platform serving mobile and app-based businesses, has raised $50 million in Series C funding, the company announced Thursday. The round was led by Bain Capital Ventures, with continued backing from Index Ventures, Y Combinator, Volo Ventures, and others.

The San Francisco-based startup enables app developers to manage pricing, subscriptions, and virtual goods across platforms like iOS, Android, and web — a function that’s becoming increasingly vital amid a surge in AI-driven apps and mobile gaming.

Key Highlights

  • Major Clients: Includes OpenAI, which worked with RevenueCat to deploy ChatGPT on mobile after its 2022 launch.

  • AI App Growth: 20% of RevenueCat’s top 20 apps are AI-based, CEO Jacob Eiting told Reuters, as generative AI apps tend to charge premium fees and convert users more effectively.

  • Expansion Plans: The company plans to use the new capital to:

    • Grow its workforce

    • Pursue strategic acquisitions

    • Advance into mobile gaming with features like virtual currency tools

“We eventually hope to be as important in the game market as we are in the app market,” Eiting said.

Strategic Context

RevenueCat is riding a wave of increased app creation thanks to tools like no-code platforms and AI-based development kits, which have fueled demand for streamlined monetization infrastructure. Its technology abstracts complex payment logic and backend infrastructure, allowing developers to focus on product development.

The platform is also expanding capabilities tailored to game developers, a sector known for in-app purchase complexity and a high-spending user base. The company’s new virtual currency feature aims to help developers better manage in-game economies and monetization models.

With this new funding, RevenueCat is positioning itself as the go-to backend for subscription infrastructure, not just for mobile apps, but increasingly for AI and gaming ecosystems — two of the fastest-growing digital markets.

ElevenLabs Secures $180 Million in Series C Funding, Valuation Hits $3.3 Billion

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Voice AI startup ElevenLabs announced on Thursday that it has raised $180 million in a Series C funding round, bringing the company’s valuation to $3.3 billion, tripling its previous worth. The round was co-led by Andreessen Horowitz and Iconiq Growth, with participation from new investors such as NEA, World Innovation Lab, Valor, Endeavor Catalyst Fund, and Lunate.

The surge in investment comes as venture capitalists look to capitalize on the growing commercial potential of generative AI products following the success of OpenAI’s ChatGPT. Based in London, ElevenLabs plans to use the new funds to further research into more expressive and controllable voice AI, create new products, and expand its tools for developers and businesses.

Since its founding in 2022, ElevenLabs has raised a total of $281 million. The company offers AI-generated voice tools that can create voices in different languages, accents, and emotional tones. CEO Mati Staniszewski emphasized that the goal of the funding is to create digital interactions that feel as natural and effortless as human conversations.

In 2024, ElevenLabs expanded its product offering to include speech generation, voice design, sound effects, and AI-driven dubbing in 32 languages. It has also forged partnerships with major publishers like The New Yorker, The Washington Post, and The Atlantic, as well as gaming studios such as Paradox and Cloud Imperium Games.

Existing investors such as Sequoia Capital, Salesforce Ventures, Smash Capital, and SV Angel are also increasing their backing.