London-based tech recruitment startup Codility has announced of securing fresh funds in its latest funding round. What’s worth noting is that for the past 10 years, the startup was being bootstrapped and this is the first time it has raised external funding. However, even while being run as a bootstrapped startup, the company posted double-digit annual recurring revenue but now, the team believes it’s time to step up.
First external funding after 10 years!
Codility has raised €19.8 million in Series A round of funding. The latest funding round was led by experienced investors such as Richard Anton at Oxx and Hillel Zidel at Kennet Partners. The company will utilise the new funds to accelerate its growth this year, serve more engineering teams, and support the company’s growing enterprise clientele.