Nx, a startup that simplifies software development with a single code repository, announced that it has secured $16M (approximately €15M) in a Series A round of funding.
The funding round, led by Nexus Venture and a16z, will be used to expand Nx Cloud, a fully managed product designed to replace tools such as Jenkins.
The announcement comes ten months after raising $8.6M in a seed funding round co-led by Nexus Venture Partners and Andreesen Horowitz.
The company is investing in its SaaS revenue and expanding its enterprise customer base. Nx says it is actively hiring to meet the growing demand for its services with a substantial funding runway of over two years.
“Having all dev workforces go remote during the pandemic, companies realised more of the pains and overhead of siloed development, and the benefits of using evergreen ‘monorepos’ instead,” co-founder Jeff Cross tells TechCrunch.
“Many companies are claiming to solve all aspects of developer experience, which overwhelms decision makers with too many choices. Our approach is more prescriptive and narrowly focused,” he adds.
Nx: Simplifying software development
In 2016, ex-Googlers Victor Savkin and Jeff Cross founded Nx to simplify storing libraries and apps in a code repository.
“We created the open source build system, Nx,” Cross tells Techcrunch. “Most of our focus is on the JavaScript ecosystem, but Nx is language-agnostic and can build anything. Developers can write private or open source plugins to improve support for specific languages or frameworks, much like the first-class plugins maintained by the Nx core team.”
The company’s primary offering is the Nx Cloud, which assists product development teams in quickly delivering features by consolidating various components of their products into a single repository.
Nx Cloud makes use of smart build methods to enhance performance, including building what’s needed, caching outputs, and distributing work effectively.
So far, the company has doubled its enterprise customers and quintupled its SaaS revenues.
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