Lisbon startup Codacy has raised $US1.1 million (£800,000) for its code-testing tool that aims to help developers ship better code faster.
The tool, used by over 8,000 developers worldwide, has identified almost 10 billion coding errors in the last year, the company claims. Eliminating bad code helps businesses to save time and money.
A Cambridge University study published in 2013 estimated the global cost of fixing software bugs stands at £205 billion annually. It is also estimated that the technical debt per line of code represents an average cost of £2.37 ($US3.61).
“Some developers spend nearly half of their time reviewing code, which is time they could be spending developing new features,” said Codacy cofounder Jaime Jorge. “Millions of code issues are created every day and companies will spend large sums of money trying to fix this ‘technical debt’.
“While it is necessary to review code to ensure costly mistakes haven’t been made, this process can be mostly automated. Companies are looking for ways to build better software faster and optimise their development processes. Code reviews should be taken into consideration. Our vision is to kill unnecessary code reviews.”
The latest round of investment was led by Caixa Capital with participation from current investors Faber Ventures, E.S. Ventures, Join Capital and angel investor Henrique de Castro, the former COO of Yahoo, bringing total investment in the company to $US1.6 million (£1 million).