Code developers often worked remotely even before the pandemic. Now, surveys show that as many as 86% of developers work remotely.
That has fueled a need for secure development platforms, as well as customized and automated workflows. And Austin-based startup Coder Technologies Inc. is gearing up to bring more advanced cloud development environments, or CDEs, to developers around the world on the heels of a new round of investment.
Coder said it raised $35 million more to expand its series B round that started in 2020. That brings the total of the round to $65 million. Toronto-based Georgian led the round. Uncork Capital, Notable Capital and Redpoint Ventures also joined. The new funding appears to bring the overall amount raised by the company to $82.8 million.
As part of the deal, Russell Moore, an investor at Georgian, will join Coder's board.
The startup, founded by Ammar Bandukwala, Kyle Carberry and John Andrew Entwistle in 2017, has a platform that simplifies coding by centralizing development environments in the cloud or on-premise, which mitigates issues such as project onboarding and security risks. It offers self-hosted, self-managed and multi-cloud solutions.
The company says it has 1.2 million monthly active users, and its customers include Fortune 500 firms and highly technical engineering teams.
“Coder has great momentum with large enterprises and cloud-native organizations, and we believe there is an opportunity to grow from the No. 1 enterprise CDE to the No. 1 CDE overall, displacing incumbents like GitHub Codespaces," CEO Rob Whiteley stated. "Georgian’s focus on open source tooling, developers, and AI/ML makes them the perfect partner for Coder as we double down" on cloud development environments.
Coder, which was on the 2023 Austin Inno Fire Awards list, plans to use the new funds to further develop its platform, as well as expand into new markets globally. It intends to focus on expanding its Europe, Middle East and Africa presence. Meanwhile, it is hiring for several high-paying roles in Austin, New York and remotely.
For example, its job opening for a senior enterprise account manager, which could be based in Austin or several other major metros, has target earnings of $350,000 to $380,000, as well as equity in the company and bonuses. In addition to sales, it has open roles for open source engineering, developer relations and customer success.
