SaaS Capital Portfolio Company, Codility, Raises $22 Million Series A
May 6, 2020
CINCINNATI & SEATTLE, May 06, 2020 – SaaS Capital, the leading provider of Committed Credit Facilities to SaaS companies, congratulates portfolio company Codility on its $22 million Series A funding round led by Oxx and Kennet Partners.
Codility, a platform that enables companies to build better engineering teams, had the following to say:
The capital will be used to fuel Codility’s growing footprint in helping expand engineering teams at high-growth companies including Microsoft, Tesla, Slack, Rakuten, American Express, and UnitedHealth Group. In 2019, Codility helped 1,500 customers evaluate over 455,000 developers, with this number growing by 54% year-over-year.
“Across all industries, companies need to rapidly scale their engineering teams in order to drive company growth,” said Natalia Panowicz, CEO of Codility. “This makes expanding engineering capacity a strategic imperative. The biggest bottleneck to achieving this lies in efficiently hiring great engineers without slowing down engineering delivery. This is where Codility comes in. Teams who implement Codility scale faster by focusing on solving problems and shipping code, rather than wasting time on inefficient hiring processes.”
Additional details of the funding can be found here.
Codility is the industry leader in technical skills assessment for hiring the world’s top engineering talent. The company leverages data-driven insights and machine-learning to assess and optimize technical skills, expanding customers’ engineering capacity. Since its inception in 2009, Codility has facilitated over ten million recruitment assessments worldwide, in various industries. Visit www.codility.com to learn more.
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SaaS Capital is the leading provider of growth debt designed explicitly for B2B SaaS companies. SaaS Capital’s growth debt is structured to provide a significant source of committed funding, deployment flexibility, and lower overall cost of capital, all while avoiding the loss of control associated with selling equity. SaaS Capital was the first to offer lending alternatives to SaaS businesses based on their future recurring revenue. Since 2007, SaaS Capital has deployed $209.5 million in growth debt to deliver better outcomes for 60+ clients, resulting in $753 million in total enterprise valuation created. Visit www.saas-capital.com to learn more.
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