When we last heard from London-based startup Codacy, which has developed an automated code-checking service, they were busy taking home 10,000 Euro by winning the pitch contest at last year’s Web Summit in Dublin. Now, they have revealed that they have picked up an additional $1.1 million in funding from a group of investors that is led by Caixia Capital and includes participation from current backers Faber Ventures and E.S. Ventures, Join Capital (marking their first public investment), and other angels, such as former Yahoo! COO Henrique de Costa. Codacy tells me that they intend to use the funding, which brings the total amount raised to $1.7 million, to support open-source communities for Java and Ruby, as well as continue to develop ways to save time in the code-review process.
The startup offers their open-source project for free, choosing to generate revenue through selling a cloud version of their service that starts at $20 per month (and can be as expensive as $150 per month) and an on-premise version that they sell to larger enterprises.
Codacy was founded in 2012, but only launched their product in 2014. At the moment, the startup claims 8,000 developers as users, a group ranging from freelancers to Fortune 500 companies.