CodeScene Raises €7.5 Million to Bring AI to Software Engineering

MALMO, Sweden,  Aug. 4, 2023 — We are delighted to announce that CodeScene, an innovative Software as a Service (SaaS) company specializing in Software Engineering Intelligence (SEI), has successfully raised €7.5 million in its financing round. The round was led by Neqst, a prominent investment firm known for its strategic investments in transformative technology companies.

CodeScene’s groundbreaking platform utilizes advanced patented algorithms and artificial intelligence to provide developers with actionable insights into their codebases. Unlike regular code analysis tools, CodeScene’s analyses are automatically adapted to each customer and the recommendations personalized by how their software organization works.

This helps teams identify technical debt, optimize software architecture, and improve overall code quality. To guarantee tangible outcomes, these insights are combined with the industry’s only source code metric with a proven business impact. This innovative approach has gained widespread recognition and is an essential tool for software development teams worldwide, CodeScene has users in over 75 countries.

The financing round, led by Neqst, is a significant milestone for CodeScene, reaffirming its market potential and paving the way for accelerated growth. The injection of capital will enable CodeScene to further enhance its cutting-edge technology, expand its customer base, and solidify its position as a leader in the Software Engineering Intelligence space.

Neqst’s decision to lead the financing round is a testament to their belief in CodeScene’s unique approach and its potential to disrupt the software development landscape. Neqst’s partnership will provide CodeScene with valuable expertise, resources, and guidance as the company enters its next phase of expansion.

The commitment and Co-investment from the CEO of CodeScene strengthens that belief. Additionally, the continued support from Luminar Ventures and Inventure demonstrates their confidence in CodeScene’s vision and the value it brings to software development teams.

“We are thrilled to have Neqst, Luminar Ventures and Inventure on board as investors,” says Hamdija Jusufagic, CEO of CodeScene.

“The investors’ conviction in our unique approach to Software Engineering Intelligence validates the impact and value we provide to our customers worldwide.

This investment will help us increase growth and presence in our current top five markets USA, Germany, United Kingdom, Netherlands and India. Furthermore, we can continue to redefine how software development teams optimize their codebases and secure a delivery of high-quality software.”

CodeScene’s commitment to innovation, science and a track record of delivering tangible business outcomes has set it apart in the industry. By leveraging an industry-leading analysis platform, CodeScene is uniquely positioned to empower development teams with actionable insights that drive efficiency, productivity and give their customers a competitive edge.

About CodeScene: 

CodeScene is a leading SaaS company based in Sweden, that specializes in Software Engineering Intelligence (SEI). CodeScene collaborates with universities and scientists all over the world, and through its patented algorithms and peer reviewed research CodeScene’s Code Health score offers the only source code metric with a proven business impact. This combination empowers organizations to improve collaboration, speed to market and code quality while reducing business risk in the process.

About Neqst: 

Neqst is a prominent investment firm that focuses on strategic investments in transformative technology companies. With its expertise and network, Neqst supports visionary companies in their growth journey, helping them achieve long-term success and create significant value.

About Luminar Ventures: 

Luminar Ventures is a venture capital firm that invests in early-stage technology companies. Luminar Ventures supports promising startups by providing capital, expertise, and access to a vast network, helping them navigate challenges and realize their full potential.

About Inventure: 

Inventure is a leading early-stage venture capital firm that supports technology entrepreneurs in building exceptional companies. With a strong track record of successful investments, Inventure provides startups with capital, strategic guidance, and operational support to fuel their growth and innovation.

Source: CodeScene