“Codota is in a position to double the productivity of developers and teams through AI over the next five years,” said Vinod Khosla, founder of Khosla Ventures. “The future of software development will be driven by AI assistance, and Codota is positioned to be a leader in this market.”
Israeli startup Codota, whose leading AI platform provides developers with automated code suggestions, closed a $12M Series A funding round. The round was led by e.ventures, with the participation of existing investor Khosla Ventures, and new investors TPY Capital and Hetz Ventures. To date, Codota has raised over $16M, including a seed round led by Khosla Ventures in 2017.
Codota’s semantic AI infrastructure emulates the human understanding of computer code and is based on more than a decade of academic research at the Technion, Israel’s foremost technological institution. Founded in 2015, the company has analyzed millions of code repositories to generate insights at scale and boost developer productivity. Codota automates all predictable parts of the development cycle, such as looking up syntax and applying the best practices for using common libraries, by suggesting the next piece of code the developer would need, just in time, in a similar fashion to Smart Compose on Gmail.
Tom Gieselmann, General Partner at e.ventures, will join Codota’s Board of Directors. Gieselmann said, “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.”
last year, currently reaching more than a million developers monthly, and measurably boosting their productivity by 25%.
Codota has an offering for the individual developer, as well as for the enterprise. Codota Enterprise allows organizations to widely encourage best practices by training Codota’s AI on the local repository, so as to discern the optimal coding patterns. The software then auto-suggests to the entire team at the right time, thereby boosting onboarding and developer productivity at all levels, saving time and resources. This is of particular importance at this time when most developers are unfortunately required to work from home due to the coronavirus crisis.
”We are proud and pleased to announce Series A round of financing and look forward to working with Tom and the e.ventures team. This is a meaningful milestone towards achieving our mission of empowering every developer in the world with the absolute best AI tools, thereby redefining developer productivity and software quality,” said Dror Weiss, co-founder and CEO of Codota. “We’re honored to be joined by some of the best dev-tools investors in the world and look forward to the next stage in our rapid growth as a category leader,” he added.
Co-investor Judah Taub, general manager at Hetz VC, added that “we became convinced that, for developers, adopting Codota is comparable to a writer moving from a typewriter to a modern word processor – it empowers them and unleashes their full potential.” This notion is shared by co-investor Dekel Persi, general manager at TPY, who commented: “Codota is leading the Augmented Developer category. With Codota’s superpowers, developers are now able to code faster and smarter; simply put, this was until recently science fiction.”
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Main Photo: Codota co-founders. From right to left – CEO Dror Weiss CTO Prof. Eran Yahav. Photo credit – Eyal Tueg