From left: Codota CEO Dror Weiss and CTO Eran Yahav. Image: Codota.
Codota has raised $12m for its AI tech that auto-completes aspects of writing code to make the process easier for developers.
Today (27 April), Israeli start-up Codota announced that it has raised $12m in Series A funding from E.ventures and Khosla Ventures. New investors TPY Capital and Hetz Ventures also joined the round.
Founders Dror Weiss and Eran Yahav set up the company in 2015, building the platform using open-source code from GitHub and Stack Overflow.
To date, Codota has raised more than $16m in funding for its AI software for developers. In 2019, the company acquired competitor TabNine. Along with today’s funding, the start-up also announced the launch of its complete version for JavaScript, which merges Codota’s platform with TabNine’s technology.
Codota’s technology
The start-up’s semantic AI infrastructure was created to emulate the human understanding of computer code and is based on more than a decade’s worth of academic research at Technion, the Israel Institute of Technology.
Since Codota was founded, the company claims it has analysed millions of code repositories to generate insights that can boost developer productivity. Codota compares its technology to Gmail’s Smart Compose feature.
The platform automates the predictable parts of the coding 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 may need.
Codota’s platform supports all major coding languages, including Python, JavaScript, Java, C and HTML. The platform operates across popular integrated development environments such as VSCode, Eclipse and IntelliJ.
‘Empowering developers’
Speaking about the fresh funding, Weiss, who is CEO of Codota, said: “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.
“We’re honoured 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.”
Tom Gieselmann, general partner at E.ventures, who is now set to join the start-up’s board of directors, added: “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.”
