Bit, a Tel Aviv, Israel-based provider of open-source tools and cloud platform for components, raised $25 million in Series B funding. Brought total funding raised to date to $36 million
The round was led by Insight Partners, with participation from Disruptive VC, Wix, and Snyk.
The company intends to use the funds to expand its offering to empower developers and organizations alike to build component-driven software.
Company: Cocycles Ltd.
Raised: $25.0M
Round: Series B
Funding Month: November 2021
Lead Investors: Insight Partners
Additional Investors: Disruptive VC, Wix, and Snyk
Company Website: https://bit.dev/
Software Category: Open-source tools and cloud platform for components
About the Company: Founded in Tel Aviv by Ran Mizrahi, Yonatan Sason, and Jonathan Saring, Bit aims to distribute software development from monolithic apps to components, while allowing developers and organizations to develop fast and at scale. The company provides open-source tools and a SaaS platform to help over 200k developers and dozens of Fortune-500 companies to scale and improve web application development by leveraging components. With Bit, developers can build independent components and compose them into features and applications, helping them to scale development while maintaining a fast pace of delivery and a consistent user experience. The company provides open-source tools and a SaaS platform to help over 200k developers and dozens of Fortune-500 companies to scale and improve web application development by leveraging components.
Source: https://www.finsmes.com/2021/11/bit-raises-25m-in-series-b-funding.html