Silicon Valley-based tech entrepreneur Jyoti Bansal, who sold his app monitoring company AppDynamics to IT giant Cisco for $3.7 billion early this year, is reportedly working on his second startup, Harness.io.
Bansal published a LinkedIn post inviting software engineers in areas such as backend infrastructure, distributed systems and machine learning to join his “new stealth startup”, CNBC reported. “All positions are in San Francisco,” the LinkedIn post said.
The CNBC report said, citing people it didn’t name, that the new startup was focussed on automated testing and deployment of software updates, a practice called continuous delivery. Bansal did not immediately respond to e-mail queries seeking details on the venture.
Bansal, who made around $520 million from his 14% stake in AppDynamics, left the company in February following its sale. Meanwhile, he has made a couple of angel investments in Indian startups.
He has backed Bangalore-based fin-tech startup Funds Tiger, and business-to-business SaaS venture LeadSquared. People with knowledge of his plans had told VCCircle that he was also likely to float a venture fund.
Bansal, an alumnus of IIT Delhi, is among the handful of young entrepreneurs from India who have built multi-billion-dollar tech companies in Silicon Valley. He moved to the US soon after his studies and worked at a few startups, before working on his idea of real-time tracking of app and web page performance. He built the company despite initial rejection by 20-odd venture capital firms.
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