Codenvy Raises $9 Million To Bring Desktop Development to the Cloud

SAN FRANCISCO--(BUSINESS WIRE)--Codenvy (formerly Exo IDE), the cloud environment for coding, building, and testing apps, today announced it has closed its first round of financing of $9 million in venture capital. Led by Toba Capital with Auriga Partners and a number of angels participating, the initial funding will accelerate the company’s growth and employee count to 40. The company has announced itself as Codenvy with 50,000 registered developers and the largest selection of integrated partners including GitHub, RedHat Openshift, Google App Engine, Amazon Web Services BeanStalk, VMWare CloudFoundry, Heroku, AppFog, CloudBees and ZeroTurnaround.

“Our partnership with Codenvy provides enterprise developers with an integrated set of services spanning development to production.”

“Other than the developer’s workbench, every other IT application has already moved to the cloud,” said Vinny Smith, founder of TobaCapital and former CEO of Quest Software (NASDAQ: QSFT). “At Quest, we saw the impact Toad could have on millions of DBAs. We are going to help Codenvy have the same impact on software engineers.”

Over the past decade, cloud computing has disrupted nearly every facet of IT. From sales, marketing, finance, support - all of these applications are being re-engineered to take advantage of cloud's instant access, no download, and pay-as-you-go attributes. Despite this transformation, developers, teams, and organizations still continue to use desktop IDEs as their workbench of choice. Desktop development and IDEs have high failure rates for developers, and are costing enterprises untold millions.

Codenvy overcomes the constraints of desktop IDEs like configuration, memory, and compute. Developers gain up to two hours of additional coding time each day due to cloud-powered always-on workspaces, parallel multi-core compilation, continuous iterative deployment, and multi-cursor pair programming. Teams benefit from having a shared workspace that integrates with agile tools, code management systems, and production PaaS runtimes.

“The IDE model for application development hasn’t changed in four decades. It’s so pervasive; the IT industry has become complacent to its severe limitations,” said Tyler Jewell, CEO of Codenvy. “Cloud gives us a unique tool to disrupt the traditional model and to improve developer productivity through innovation. We are thrilled to partner with investors that have deep experience in the enterprise and share a common vision for Codenvy.”

Codenvy’s robust ecosystem of partners gives developers a simple way to deploy and operate code on the largest selection of PaaS vendors. Its Eclipse-like programming model enables an easier transition for Eclipse developers and plug-ins.

“In today’s marketplace, developers are met with increasing demands with limited resources and time. We are working with Codenvy to eliminate waste in the process of building, testing, running and managing applications,” said Sacha Labourey, chief executive officer, CloudBees. “Our partnership with Codenvy provides enterprise developers with an integrated set of services spanning development to production.”

Availability and Pricing

Codenvy is free for public projects, and has a monthly subscription for private projects and those that require larger builder and tester resources. Codenvy also offers Codenvy Enterprise, a private cloud installation for organizations with strict compliance requirements.

About Codenvy

Codenvy is the cloud development environment for coding, building, and testing applications. Codenvy's 50,000 developers gain up to two additional hours of viable coding time each day due to cloud-powered always-on workspaces, parallel multi-core compilation, continuous iterative deployment, and multi-cursor pair programming. For more information visit http://codenvy.com/.

About Toba Capital

Toba Capital is a venture firm focused on enterprise software and infrastructure. Toba backs entrepreneurs building transformative businesses, both as an investor and as an ongoing operational partner. The firm was founded by Vinny Smith, an early investor and former CEO of Quest Software.

About Auriga Partners

Auriga Partners is an independent venture capital firm. Based in Paris, it invests in information technologies and life sciences, in innovative high potential ventures, in seed or early development stages, in Europe, North America and Israel. Auriga Partners manages three funds for a total of more than 330 millions euros. Along with investing the necessary capital, Auriga Partners brings also its savoir-faire in developing and solidifying executive teams, organizing companies, broadening their networks and forming strategic and corporate partnerships.

http://www.aurigapartners.com