New round for Codemotion, the reference platform for the professional growth of developers and for companies looking for the best IT talent. The investment transaction has a value of 8 million euros and is led by Sinergia Venture Fund, a venture capital fund specializing in B2B scale-ups. A selection of Italian and international partners took part in the round, including Azimut Digitech Fund (with Gellify as advisor), Endeavor Catalyst, Primo Ventures, P101 with Italia 500 and Cdp Venture Capital through the startup relaunch fund.
adding to previous deals in which the firm received support from P101, Primo Ventures, CDP Venture Capital and LVenture Group.
«Codemotion operates in a rapidly growing market» comments Simone Cremonini, managing partner of Sinergia Venture Fund, who specifies: «Today all companies – of any size – need to hire developers and Codemotion has two fundamental assets to satisfy this need : on the one hand, the largest developer community in Europe; on the other, a business model built over the years around this community which has great potential for growth at an international level. We are excited to work alongside the Codemotion team to accelerate its growth in Italy and Europe.”
The development strategies
The investment round will lead to a further enhancement of the Codemotion platform, introducing both new features to increasingly meet the needs of developers, and services for companies ranging from attraction to selection, up to developer retention (thereby reducing the rate of company turnover).
Furthermore, the development of Codemotion Talent will continue and today, less than a year after its launch, it can already count on a pool of more than 5,000 developers looking for work. The resources collected will then allow Codemotion to continue its own business internationalization processwith the aim of achieving European leadership by 2025 with one million active developers on the platformbecoming a point of reference in the sector.