Leading AI Platform, Codota gets $12 Million
Codota, an Israeli startup that has built a platform that applies the concept of artificial intelligence and semantic analytics to the world of coding, has announced a round of funding to expand its business.
The startup that provides an AI tool to developers to let them autocomplete strings of code that they are writing has raised $12 million in order to speed up their work and to make sure that it’s using the right syntax and ‘spelled’ correctly. The platform claims to boost its productivity by 25%. The new round has been led by e.ventures along with the participation of its existing backer Khosla Ventures and new investors Hetz Ventures and TPY Capital.
According to Codota, the platform has raised a total count of $16 million to date, but, the authorities have refused to disclose the valuation of the company. The company claims that in order to expand the number of languages it has acquired one of its bigger competitors, Tab Nine, out of Canada, late last year on the heels of which the latest funding came. The firm mentions that it operates across major integrated development environments such as VSCode, Eclipse and IntelliJ, and supports all major languages including JavaScript, Java, Python, C, and HTML.
Codota disclosed that many developers from big companies including Google, Netflix, Amazon, Alibaba, Airbnb and Atlassian, use its tools. It also claims that its user base has grown more than 1,000% in the last year and over 1 million developers using it monthly.
Tom Gieselmann, the General Partner of e.ventures, that announced a $400 million fund for early-stage investments, states, “I’ve been following the developer tools market for over 20 years and believe Codota has distinguished itself as the dominant player in terms of community, product, and technology. We are proud to support Dror and Eran on their mission to transform software development and make coding easier and more efficient for individual developers and teams within the enterprise.”
In the announcement of latest raised fund the company has decided that Tom Gieselmann will join the board at Codota.
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