Wesley Clover and Development Bank of Wales lead latest investment for Codeherent
Codeherent is delighted to announce the completion of a funding round raising £400,000. Confidence in Codeherent’s commercial prospects has been endorsed by subscriptions made by the original investors Wesley Clover, The Waterloo Foundation and Angel Investors. The Company also welcomes the Development Bank of Wales as a new equity investor.
Codeherent is the creator of an intuitive software platform that enables businesses to confidently manage their cloud infrastructure. By centralising computer processing and storage facilities in data centres, which can be accessed ‘on demand’, cloud computing allows organisations to avoid the up-front costs associated with the acquisition of in-house IT infrastructure.
This latest investment will accelerate the development of Codeherent’s cloud visualisation and editing features. Businesses using Codeherent’s platform can reduce cloud costs, accelerate cloud adoption, and improve IT security.
Codeherent was awarded initial investment after graduating from The Alacrity Foundation, the Newport based educational charity creating a generation of high-tech companies headquartered in Wales.
Businesses are constantly having to accelerate and improve software quality. The introduction of faster processes, the closer collaboration of software developers and IT operations (DevOps), and the growth of cloud computing have all helped to fuel this trend.
The Cloud Computing market, forecast to grow 17% in 2020, has been introduced to its widest ever audience due to Covid-19 and the global international lockdown which triggered an explosion in the use of cloud based applications such as Zoom. Yet, despite its commonality for the general public, Codeherent believes that only a small minority of businesses know how to maximise the potential of cloud because of a lack of shared knowledge about Infrastructure as Code (IaC). IaC is the management of computer infrastructure using software tools.
Codeherent Managing Director, Paul Sheehan, said: “With heightened emphasis on the criticality of excellent technology infrastructure, all businesses should be able to maximise the benefits of Infrastructure as Code to speed up software delivery, reduce costs, and improve product quality. Whether it is because of a skills gap, a lack of knowledge, or an inability to deploy it at scale, Infrastructure as Code needs to be made more accessible to a wider cross-section of the business community. We’re excited to launch our platform into that space.”
Dr Carl Griffiths, Development Bank of Wales’ technology seed fund manager said:
“Our seed equity investments are helping to unlock the potential in exciting technology companies, with high-growth potential. At a time when businesses across the globe are digitally transforming to evolve and compete, Codeherent is providing an advanced cloud organisation and infrastructure solution. This equity investment marks our confidence in Codeherent’s ability to make a significant difference to the business world as it adopts new ways of working.”