DeepCode nabs $4 mln seed

DeepCode, a platform for AI-powered code reviews, has raised $4 million in seed funding. Earlybird led the round with participation from capital300 and return backer btov Partners.

PRESS RELEASE

Zurich, Switzerland, 6th August 2019 – DeepCode, the platform for AI-powered code reviews, today announced that it has raised USD 4 million (CHF 3.92 million) in seed funding led by Earlybird, with participation from capital300 and existing investor btov Partners. DeepCode has previously raised CHF 1.1 million.

DeepCode brings knowledge of the global development community to every software developer. The tool uses machine learning to process millions of lines of code in open-source software projects and learns how to find serious issues in codes. It not only finds syntax mistakes but also determines the intent of the code and consequently identifies many more critical bugs and vulnerabilities than other existing tools. This leads to an exceptional reduction of time for finding and fixing bugs, which significantly improves the process of software development.

“For all industries and almost every business model, the performance and quality of coding have become key. DeepCode provides a platform that efficiently supports programmers in software development and created a USP,” said Christian Nagel, partner of Earlybird. “The team combines a deep scientific understanding of code optimization and uses artificial intelligence to increase performance with more coders using it.”

“We appreciate having investors that fully understand the opportunities for AI and machine learning in software development,” said Boris Paskalev, CEO and co-founder of DeepCode. “Knowledge gained from open-source software helps developers write clean and secure code in a fraction of the time that it would normally take.”

The new funding will enable DeepCode to support additional integrations and programming languages (Java, JavaScript, and Python are currently supported), improve the scope of code recommendations, and strengthen the team. The tool is now free for business teams of up to 30 developers, open-source software, and educational use.

The startup is a spin-off of the Swiss Federal Institute of Technology Zurich (ETH). Members of the founding team previously worked at Google and IBM. The team has registered around 30 patents and published hundreds of research papers related to program analysis, cybersecurity, AI, and machine learning.