Codacy raises €15 million in Series B round

  • ECO News
  • 22 September 2022

The Series B round was led by the Sonae group's venture capital company. Codacy will hire over 50 people by the end of this year.

The startup Codacy has just secured $15 million (€15 million) in a Series B round. The funding, led by Sonae group’s venture capital unit (Bright Pixel Capital), will be used to double the team by the end of this year.

The Venture capital firms Armilar Venture Partners, Faber Ventures, Join Capital, Caixa Capital, EQT Ventures and Iberis Capital also participated in the operation.

“Today represents an exciting milestone for us. The new investment and growing customer base around the world validate our mission to help developers and development teams reach their full potential,” notes Jaime Jorge, CEO and co-founder of Codacy.

“Measuring and improving code quality, security, and productivity are increasingly crucial tasks for companies that want to remain competitive. Codacy’s DevOps Intelligence platform presents itself as the right solution for these needs by providing a suite of products that offer actionable insights for programmers and engineering leaders,” notes Bright Pixel Capital leader Eduardo Piedade.

Created in 2014, the platform that allows programmers to review lines of code is already used by over 300,000 people worldwide and has over 870 corporate clients.

After this operation, Codacy will have more than 100 employees by the end of 2022. In Europe, the startup will hire Specialised people in engineering, support, sales and marketing sectors.

Following this series B investment round, Codacy have raised a total amount of €28 million in private funding.