A Coruña, September 19th, 2023 – Codee, the pioneering software development platform specialized in the automation of code inspection and testing for performance, reveals that it has secured €5M in a funding round led by Swanlaab Venture Factory. This round also features the continued support of current investors Caixa Capital Risc, Unirisco, Xesgalicia, Armilar, and KFund, who had already demonstrated their trust in Codee during the company’s inception.
“We are excited to welcome Swanlaab to join the Codee Team! They bring a strong expertise in helping tech companies to grow their customer base and start scaling up through a systematic, repeatable market prospection and sales process for B2B markets, which will play a key role in realizing Codee’s vision in the upcoming years“, says Manuel Arenaz, CEO and Co-Founder of Codee.
Mark Kavelaars, Managing Partner and Co-Founder at Swanlaab, highlighted that “Codee is the first company invested from our newly created fund. We were impressed by Codee’s vision to empower developers to be more efficient, and Codee’s team focus on bringing their innovative solution to the market and set Codee as a category leader gained our attention when looking for Deep Tech startups to invest on“.
“Working with Swanlaab and existing investors has been a great experience in recent months. Their consistent ability to offer valuable support, helps us to effectively leverage their knowledge and extensive network.”, says Rosa Vázquez Co-Founder and CFO of Codee.
As software complexity and velocity continues to grow rapidly, the adoption of automated code testing tools is key for many companies to deliver high-quality products and defend their competitive advantage. The need for enhanced performance is on the rise, leading developers to demand new cutting-edge tools for automated code testing that extend beyond the realms of bug detection, enforcement of compliance with coding standards and security, typically associated with popular DevSecOps initiatives.
For the first time, Codee’s solution for automated code testing specialized in performance enables the detection of performance issues early in the software development life cycle, saving hours of developer time at the testing and coding stages. Codee achieves this using its innovative Codee Core Engine, a technology leap from the LLVM Intermediate Representation, to extract conceptual features from the source code and implement code checkers that automate the rules of the Open Catalog of Best Practices for Performance. Codee also provides innovative Coding Assistant capabilities to fix the performance issues of the source code.
The funding allows Codee to grow and nurture its customer base as well as continue building its Codee platform for automated code testing specialized in performance. The Codee value proposition has been proven with the C programming language in the x86 ecosystem, enabling up to 18x performance boost for compute-intensive workloads using Intel oneAPI tools. Codee is extending support for the C++ and Fortran programming languages, as well as for the Arm and RISC-V ecosystems. Codee is automating new checkers, in cooperation with the developers community to extend the Open Catalog of Best Practices for Performance.
Codee is clearly a huge benefit for mission- and business-critical, time-sensitive industries, typical of the embedded marketplace. Closing this round of investment successfully has already contributed to improving the confidence and trust of our customers and prospects in Automotive, Medical, Electronics, Renewable Energies and High Performance Computing in the United States, Saudi Arabia, Australia and Europe.
Xavier Álvarez, ICT Director at Caixa Capital Risc, also noted that “This investment round will enable Codee to execute its ambitious plans to scale to the next stage. We have seen the company deliver on their vision since we decided to support Codee”
Unirisco’s CEO, Inmaculada Rodríguez, also emphasizes the importance of this funding round, stating, “Codee demonstrates that technology generated in the University can become highly valuable for large companies, and that technology transfer is already a reality within the Galician ecosystem.”
Pedro Ribeiro Santos, a Partner at Armilar Venture Partners, noted that “From our initial investment in Codee, we have seen the need for more performant software ever-increasing, validating Codee’s technology and unique value proposition. ”
Raquel Rodriguez, CEO at Xesgalicia, noted that “ Codee is a good example of the potential of the Galician scientific-technological ecosystem, being able to create companies that can scale globally to be leaders in their field”.
Jaime Novoa, partner at Kfund, noted that “Codee is a clear example of a larger trend of Spanish deeptech companies, tackling complex problems with a software-first mindset”.