The new investment round will allow Codemotion to boost the development of the platform, accelerate international growth and expand its team with new hires.
Codemotion, the reference platform for the professional growth of developers and for companies looking for the best IT talent, announces an €8 million investment round led by Sinergia Venture Fund, a venture capital fund specialising 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 Fondo rilancio startup.
This new capital increase brings the total amount of funding raised by Codemotion to €15.5 million, adding to the previous operations in which the company received support from P101, Primo Ventures, CDP Venture Capital and LVenture Group.
Codemotion is a digital platform that supports the largest community of developers in Europe, over 250,000 active professionals, to whom it offers content and events for updates and training, career and networking opportunities, and a network of over 300 companies and startups interested in hiring tech talent. In 2022, it launched Codemotion Talent, the matchmaking service that is revolutionising the industry of selecting IT profiles – which are among the most difficult to select and retain in companies – thanks to a machine learning algorithm that creates the ‘perfect match’ between the career aspirations of professionals and the demands of companies, and the presence of consultants who support client companies and developers throughout the process.
The investment round will lead to a further enhancement of the Codemotion platform, introducing both new functionalities to increasingly meet the needs of developers and services for companies ranging from attraction to selection and retention of developers (thus reducing the company turnover rate). Furthermore, the development of Codemotion Talent will continue, which today, less than a year after its launch, can already count on a pool of more than 5,000 developers looking for work.
The resources collected will also allow Codemotion to continue its internationalisation process, with the goal of reaching European leadership in 2025 with one million developers active on the platform, becoming a reference point in the sector. During 2023, the company will focus on growth in Italy and the strengthening of its presence in Spain and the opening of two new markets, also by evaluating M&A operations. In addition, to support growth, the team will be significantly strengthened with new talent hires to make the company increasingly international.
“This round represents an important recognition of the results achieved over the last few years and a starting point for a new chapter of Codemotion focused on international growth and exporting our model to new European markets,” says Chiara Russo, CEO and Co-Founder of Codemotion. “At a time of strong demand for software developers and developers from businesses, Codemotion contributes to creating new opportunities in the digital innovation ecosystem, supporting, on the one hand, IT professionals in their professional growth and, on the other hand, companies that want to hire tech talent“.