Total amount raised
$50.6 Millions
Latest funding date
09/01/2024
Location
Qodo has successfully raised $40 million in a Series A funding round led by Susa Ventures and Square Peg Capital. The platform offers a suite of AI tools designed to enhance code quality through automated reviewing, testing, and generation directly within integrated development environments (IDEs) and Git.
Keep reading to explore the intricacies of Qodo's fundraising journey and the investors backing this innovative platform.
What Is Qodo?
Qodo, founded on June 29, 2022, by Dedy Kredo and Itamar Friedman, is headquartered in Tel Aviv, Israel. The company operates in the fields of Artificial Intelligence, Generative AI, Machine Learning, Software, and Web Development.
With a team of 11-50 employees, Qodo offers a suite of AI-driven tools designed to enhance code quality through automated reviewing, testing, and generation directly within integrated development environments (IDEs) and Git. The platform aims to boost developer productivity and code integrity by leveraging AI to understand and implement best practices in coding.
How Much Funding Has Qodo Raised?
- Seed Round
- Amount Raised: $10.6M
- Date: March 2023
- Lead Investors: TLV Partners, Vine Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch the initial version of their AI-driven coding platform.
- Non-Equity Assistance
- Amount Raised: -
- Date: November 2022
- Lead Investors: Intel Ignite
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To gain strategic support and mentorship from Intel Ignite.
- Series A
- Amount Raised: $40M
- Date: September 2024
- Lead Investors: Susa Ventures, Square Peg Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the rapid adoption and further development of Qodo's AI-powered coding platform.
Total Amount Raised: $50.6M. Current Valuation: Not publicly disclosed.
Key Investors
- Susa Ventures
- Details: Susa Ventures is a venture capital firm that focuses on early-stage technology companies. They have a strong track record of supporting innovative startups.
- Investment Focus Areas: Early-stage technology companies, software, artificial intelligence.
- Notable Investments: Robinhood, Flexport, Andela.
- Square Peg Capital
- Details: Square Peg Capital is a venture capital firm investing in technology companies across various stages. They have a significant presence in Australia, Israel, and Southeast Asia.
- Investment Focus Areas: Technology companies, healthcare, fintech, enterprise software.
- Notable Investments: Canva, Fiverr, Airwallex.
- TLV Partners
- Details: TLV Partners is a venture capital firm that invests in early-stage technology companies, primarily in Israel. They focus on supporting innovative tech startups.
- Investment Focus Areas: Early-stage technology companies, Israeli tech companies.
- Notable Investments: Next Insurance, Aqua Security, Guardicore.
- Vine Ventures
- Details: Vine Ventures is a venture capital firm that invests in early-stage technology companies. They aim to support startups with high growth potential.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Not specified.
- Intel Ignite
- Details: Intel Ignite is an accelerator program by Intel that supports early-stage startups. They provide strategic support and mentorship to help startups grow.
- Investment Focus Areas: Early-stage startups, technology.
- Notable Investments: Not specified.
What's Next for Qodo?
Qodo's future looks promising as it continues to expand its AI-powered coding platform to more enterprises. With over 1 million developers already using its tools and multiple Fortune 100 companies on board, the potential for growth is substantial. The company aims to integrate AI tools to enhance human expertise in software development, which could significantly boost developer productivity and code quality.
Future fundraising opportunities appear bright, given the strong investor confidence demonstrated by the recent $40 million Series A round. As Qodo continues to grow and expand its market presence, it is likely to attract more venture capital and strategic investors interested in AI and software development technologies. This could lead to additional funding rounds focused on scaling operations and entering new markets.
However, Qodo may face challenges such as ensuring the reliability and quality of AI-generated code and competing with other AI-powered coding platforms. Addressing these issues will be crucial for maintaining its competitive edge and achieving long-term success in the rapidly evolving software development landscape.
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