Israeli company Codota has raised $12 million in a Series A funding round led by e.ventures, a San Francisco-based multinational venture capital group with the involvement of established investor Khosla Ventures, and new investors TPY Capital and Hetz Ventures.
This takes Codota’s financing to more than $16 million to date.
From right to left: CEO Dror Weiss, and CTO Professor Eran Yahav. Courtesy
The company was founded in 2015 by Dror Weiss and Professor Eran Yahav, and has developed an AI platform that provides developers with automated code suggestions. The tech is based on more than a decade of academic research at the Technion.
Last year, Codota acquired former competitor TabNine and now supports all major languages, including Python, JavaScript, Java, C, and HTML. The company says its user base grow by more than 1,000 percent over the past year.
”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, in a statement. “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.
“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.”
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.”
