Lisbon-based Codacy has raised $7.7 million in a funding round led by Join Capital, with support from EQT Ventures, Armilar Venture Partners, Faber Ventures, and Caixa Capital.
Founded in 2014 by CEO Jaime Jorge and CTO João Caxaria, Codacy is a SaaS platform that automates code review, which not only increases efficiency of individual developers but also standardises software quality across sprawling enterprise teams.
Jorge explained the pressing need for Codacy’s product: “Large enterprises, employing thousands of developers distributed across the globe, are seeking ways to enable their engineering teams to become more productive and predictable. With estimates showing that roughly 42 percent of developers’ time is spent maintaining code, we’re seeing massive demand for quality standardization in the development cycle.”
The startup claims to help companies avoid technical debt, shrink productivity gaps, streamline product releases, and boost bottom lines. All of these benefits are achieved through analysis of over 30 billion lines of code per day, across more than 450 customers.
The new funding will go toward product development and commercial initiatives around the world. In the past year, the company opened a US headquarters in New York City as well as an office in the Bay Area, where its global head of sales is now based.
To keep up with the rapidly scaling enterprise market, Codacy is preparing to deploy on Kubernetes for all of its cloud and on-premise users, while continuing to release additional programming language support and expand features within the GitHub, GitLab, and Bitbucket environments.