Code Climate raises $50M in Series C from PSG to help engineers align initiatives with strategic priorities

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Code Climate raised $50M in a Series C funding round led by PSG to further its vision of helping engineers align initiatives with data-driven insights, drive continuous improvement and help advance its product vision, and extend its sales reach and customer success


Code Climate, a company providing software engineering teams with data-driven insights, raised $66 million in a Series C funding round led by PSG to further its vision of helping engineering leaders align initiatives with strategic priorities, a press release from Code Climate said.

The Series B funding for Code Climate came in May 2020, where it netted $8.5 million. With the close of Series C, the total amount raised by the company touches $66 million. Code Climate’s existing investors – Union Square Ventures, Foundry Group, Lerer Hippeau Ventures and NextView Ventures – participated in the funding round.

Code Climate, founded in 2011, empowers companies to improve the efficiency of their engineering and product organizations using its flagship product, Velocity. It transforms data from the development and operations and project management tools into valuable insights, helping teams ship software faster.

Bryan Helmkamp, co-founder and CEO of Code Climate, expressed excitement about being backed by PSG and said,

“This investment will help us further our vision of helping engineering and business executives align engineering initiatives with business priorities, deliver high-quality code quickly and consistently, and improve teams’ processes and skills to create a high performing culture.”

Bryan Helmkamp

Code Climate revealed that it experienced continued growth over the past year and doubled its headcount. The proceeds from the funding to help engineering leaders accelerate software delivery and drive continuous improvement, Code Climate added. It would be driven towards advancing its product vision, extending sales reach and customer success.

Rich Zajeski, vice president of PSG, opined that Code Climate is well-positioned to capitalize on the growing need of companies to gain visibility into their engineering organizations and added,

“We believe Code Climate has built a leading platform and team that can address this market need. The value proposition of Code Climate has enormous potential, helping companies maximize their strategic investments in software engineering to bring innovative products to market faster, more consistently, and more efficiently. We are thrilled to have the opportunity to partner with Bryan and the rest of the Code Climate team in their next phase of growth.”

Rich Zajeski
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