Codacy announces raising $7.7M in funding
Today we’re excited to announce that we’ve raised a $7.7M funding round, led by Join Capital along with our existing investors EQT Ventures, Armilar Venture Partners, Faber Ventures and Caixa Capital. Myself and co-founder/CTO João Caxaria are thankful to our team, our customers and users, and our partners for all of their support in enabling our vision of standardizing software quality on a global scale.
It seems such a short time ago that João and I started the company, which was originally focused on code duplication management, based on my Master’s thesis. In reality, it’s now been five years, and I couldn’t be more proud of what we’ve built so far and the value Codacy brings to thousands of developers every day. Within the last several months, we’ve opened up a U.S. HQ in New York, hired remote customer teams in the Bay Area, and expanded our headcount to almost 50 to keep up with increasing demand and adoption. Our team works everyday to make sure our customers have the best possible experience and today is a celebration of their work.
And we’re just getting started. We’re just scratching the surface of what quality automation and standardization can mean for everyone in the development community; from students and open source users to some of the largest and most distributed engineering teams across the world. With this round of funding, we’ll be expanding and accelerating product development and commercial initiatives to support the needs of our users and customers, which I’ll dive into a bit below.
Delivering value to our customers and users
Expanded Enterprise focus with continued free usage for small teams and OSS
As we’ve been working with larger Enterprises over the past two years, it has become clear to us that these companies experience higher challenges in maintainability and quality management due to their scale and diversity of products, locations and technology.
I’m happy to announce that select customers are entering into a private beta phase of the new generation of our Enterprise offering, which we’re planning to roll out in Q1 next year. Included in this offering will be the option for deployment on Kubernetes for cloud and on-premise, which will be nearly effortless to start and configurable on expansion. This will make our solution the most seamless and integrated approach to standardize software quality at scale.
We will also be releasing additional programming language support and expand features within GitHub, GitLab, and Bitbucket environments for all users of Codacy.
Our vision: increasing the efficiency of development teams
Over the past five years, we’ve repeatedly witnessed the impact that software quality has on development teams. In a world where the “when” of software development seems to prevail over everything else, we work with teams to enable them to focus on the “how”.
“Quality” is, in many cases, subjective and must be defined by each company and each team in order to optimize their software deployment lifecycle. At Codacy, we will be increasingly focused on providing a consolidation of quality insights that enable teams to elevate their engineering standards while becoming more efficient at making development decisions and shipping their products.
Over the next several months, we will continue showcasing our commitment to this focus on software quality by consistently bringing you the tools to investigate, monitor and take action.
Minimizing the time between “problem” and “doing something about it”
Our focus has been to provide tools to development teams that they need to be on top of their quality, to ask the right questions and to take action. We see that, with the growing prevalence of distributed/remote teams and cloud workflow platforms, companies need to standardize quality at scale and ensure peak efficiency within their development workflows. This remains at the core of what we aim to provide at Codacy, and this round of funding enables us to accelerate this core focus forward.
We’re proud of the positive impact that Codacy has had for hundreds of thousands of developers, and couldn’t be more excited for what comes next.
Thank you again to the Codacy team for your dedication, grit and uncompromising excellence, and to all of our amazing customers and users for allowing our team to serve you.