Codacy, a Lisbon, Portugal-based platform that helps software development teams ship high-quality code faster, raised $15 million in Series B funding, bringing Codacy's total raised to over $28 million.
The latest round was led by Bright Pixel Capital, with participation from existing investors such as Armilar Venture Partners, Faber Ventures, Join Capital, Caixa Capital, EQT Ventures, and Iberis Capital.
The newly raised capital will help Codacy's ongoing efforts to help engineering teams reach their full potential by providing insights into the development process.
The funding will be used to fuel Codacy's product innovation and development as well as accelerate global growth, with a focus on expanding the company's current presence in the US market.
Codacy intends to hire additional senior talent for its engineering, support, and success teams and its sales and marketing teams across Europe to double its headcount to over 100 employees by the end of 2022.
Jaime Jorge, Codacy Co-Founder and CEO, explains: "Today marks an exciting milestone for us. The new investment, and our growing customer base across the globe, validate our mission to help developers and dev teams reach their full potential. Driven by our continued focus on building a category leader in the software space, we will continue to invest in our platform, helping companies manage software quality efficiently and provide actionable insights on development processes. We're delighted to welcome Bright Pixel Capital as a specialist investor with such deep sector expertise to further accelerate the development of our DevOps Intelligence Platform."
Company: Codacy, Inc.
Raised: $15.0M
Round: Series B
Funding Month: September 2022
Lead Investors: Bright Pixel Capital
Additional Investors: Armilar Venture Partners, Faber Ventures, Join Capital, Caixa Capital, EQT Ventures, and Iberis Capital
Company Website: https://www.codacy.com/
Software Category: DevOps Intelligence Platform
About the Company: Founded in 2014 by Jaime Jorge and Joo Caxaria, Codacy is an automated code review tool that helps developers save time in code reviews and to tackle technical debt. Codacy's DevOps Intelligence Platform helps thousands of developers ship billions of lines of code daily by automating and standardizing code reviews. Codacy has built a suite of products that help developers quantify and act on their software quality, engineering performance, and security. Developers use the software, installed on-premise or accessed in the cloud, to check code quality and implement code quality standards. Codacy's product suite provides data-driven insights into code quality, security, compliance, engineering health, and performance. It integrates into developers' workflows, enabling customers to ship high-quality code in over 40 programming languages, and is available in free open-source and enterprise versions (cloud and self-hosted). Codacy has over 870 customers, including Panasonic, Delivery Hero, Harvey Nichols, and Delhivery. The company is headquartered in Lisbon, Lisbon, Portugal, with an additional office in New York, New York.
Source: https://techfundingnews.com/codacy-snaps-15m-to-ship-high-quality-code-faster/