Codemotion closes a financing round of 8 million euros

The Codemotion platform has announced an investment round of 8 million euros, led by Sinergia Venture Fund, the venture capital fund specializing in B2B scale-ups. A selection of partners participated in the round, including Azimut Digitech Fund (with Gellify as advisor), Endeavor Catalyst, Primo Ventures, P101 and CDP Venture Capital.

Codemotion supports the largest developer community in Europe: more than 250,000 professionals to which it offers content with the latest developments in the sector, training, employment and networking opportunities, and a network of more than 300 companies and startups interested in hiring technological talent. In 2022, the company launched Codemotion Talent, the matchmaking service that is revolutionizing the selection of computer profiles, thanks to its machine learning algorithm, based on the “machine learning”, that creates the “perfect match” between the professional aspirations of developers and the demands of companies. Both actors are accompanied by consultants throughout the selection process.

This new capital increase raises the total amount of financing obtained by Codemotion to 15.5 million euros, These are in addition to previous operations in which the company received the support of funds such as P101, Primo Ventures, CDP Venture Capital SGR and LVenture Group.

The investment round will allow us to continue improving the Codemotion platform, incorporating new functions to increasingly satisfy the needs of developers, and different services to help companies in the selection and retention of developers, especially to reduce the rate of worker turnover in companies. In addition, the development of Codemotion Talent will continue, which, in less than a year after its launch, already has a pool of more than 5,000 registered professionals looking for work.

Internationalization of the startup

This new round will also allow Codemotion to continue its process of internationalization. During 2023, the company will focus on its growth in Italy, on strengthening its presence in Spain and on opening two new markets. To support this expansion, the team will be strengthened by hiring new talent so that the company is increasingly international.

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The company’s goal is to achieve European leadership in 2025, with a million active developers on the platform, thus establishing itself as a benchmark in the European sector. At the same time, this will allow the company to also consider M&A operations.

«This round represents an important recognition of the results obtained in recent years and is the starting point for a new Codemotion chapter, focused on international growth and the export of our model to new European markets»it states Chiara Russo, CEO and Co-Founder of Codemotion. «There is an increasing demand for software developers and Codemotion wants to support their professional growth, as well as help companies looking for this technological talent to hire them. In this way we create more opportunities in the ecosystem of digital innovation. The goal for the coming years is to make this model grow both in Italy and abroad”.

«Codemotion moves in a fast growing market», Simone Cremonini, managing partner of Sinergia Venture Fund. «Today, all companies – whether small, medium or large – need to hire developers and Codemotion has a key asset: the largest developer community in Europe. Over the years, it has been able to build, around this technological community, a business model that has great potential for growth at an international level. That is why we are delighted to work with the Codemotion team to accelerate its growth in Italy and Europe.”

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