Codacy, a Portuguese startup, assists developers in meeting the demands of a world that are becoming more digital. With their most recent €15.5 million in funding, the team has put their startup in the lead.
The ongoing impact of digital transformation on (nearly) every area of contemporary life is being hampered by a lack of developers to satisfy the rising demand.
All types of businesses want to digitize, but keeping up with the pace is challenging for engineering teams. As a result, the worldwide DevOps industry is expanding quickly to supply engineers and developers with the tools they need to operate more productively. By 2030, the industry is anticipated to grow to an astounding €52 billion.
Codacy, a company based in Lisbon, is taking advantage of this market by developing an intelligence platform that offers crucial information for engineering teams to perform at their best. The startup recently acquired $15.5 million.
Leading technology investment firm Bright Pixel Capital, which specializes in retail technology, cybersecurity, and software for digital infrastructure, led the Series B financing.
The round also included participation from current investors Armilar Venture Partners, Faber Ventures, Join Capital, Caixa Capital, EQT Ventures, and Iberis Capital.
It comes at a thrilling time for the firm, which has witnessed the expansion of its US customer base boost its global presence.
The funding will help Codacy maintain its commitment to helping engineering teams realize their full potential by offering insights into the development process and facilitating product creation, increased worldwide expansion, and strategic recruitment.
The CEO and co-founder of Codacy, Jaime Jorge, said: “Today represents an incredible milestone for us. The new investment and our expanding global clientele validate our goal of assisting development teams and programmers in realizing their full potential.
“Driven by our continuous focus on developing a category leader in the software arena, we will continue to invest in our platform, assisting businesses in effectively managing software quality and offering practical knowledge about development procedures,” Jaime concluded. To further accelerate the development of our DevOps Intelligence Platform, we are thrilled to welcome Bright Pixel Capital as a specialized investor with extensive industry knowledge.
Since its founding in 2012, Codacy has paved the road for digital transformation for businesses operating in a variety of industries, assisting them in adjusting to the demands and expectations of the digital world.
The majority, if not all, of businesses, are turning digital, and although there is a growing demand for developers to meet it, there is also a growing demand for technologies that boost engineering teams’ productivity.
“At Bright Pixel, we are quite aware of the issues that firms face in an increasingly digital world,” said Eduardo Piedade, CEO of Bright Pixel Capital. For businesses that wish to remain competitive, measuring and enhancing code quality, security, and productivity is essential.”
“The DevOps intelligence platform from Codacy positions itself as the ideal response to these demands by offering a range of solutions that offer useful information to engineers and developers. We are honored to serve as the round’s lead organization and look forward to assisting this outstanding team in its goal of enabling developers to provide better code more quickly, said Eduardo.
Lack of code quality and technical debt can be serious hindrances for businesses in an increasingly globalized and competitive market as a result of increased digitization. Codacy is attempting to take advantage of this market opportunity and establish itself as the top option for software-led enterprises looking to standardize software and lead teams to full engineering performance.
Developers may get valuable data-driven insights from the product package, which also includes Quality and Pulse, on topics like code quality, security, compliance, engineering health, and performance. Additionally, it is simple to incorporate into existing development workflows, enabling clients to deliver high-quality code in over 40 programming languages.
The Codacy platform is already used by 870 clients and more than 300,000 developers globally. Among these clients are multinational companies like Panasonic, Delivery Hero, Harvey Nichols, and Delhivery.
Vevo’s Scott Anderson, Senior VP of Product & Engineering, stated: “This [Codacy] now covers a significant portion of our YouTube publishing pipeline. We’ve cut our tech support time by roughly 60%, and it reached 70% code coverage across those pieces. We have considerably decreased the number of outages and blips that most of these legacy systems experienced, so we are no longer always in firefighting or fast response mode.
Image Credit: Codacy