Israeli software co Codefresh raises $8m

Microsoft

Investors in the company's B round included Microsoft and previous investors Hillsven, Viola Ventures, and CEIF.

Israeli startup Codefresh has announced the completion of its B round led by M12, the venture capital fund of Microsoft. Previous investors Hillsven Capital, Viola Ventures, and the CEIF fund also took part. Codefresh has raised a total of $15.1 million to date. Investors in previous rounds also included UpWest Labs and Streamlined Ventures.

Codefresh is developing a platform for devising and deploying CI/CD software designed for a Kubernetes containers management environment, a very popular innovative software development technology. Codefresh's system facilitates the transition to this environment. Organizations that have adopted Codefresh's platform report that their development process became 24 times as fast.

Microsoft's decision to invest in Codefresh indicates the company's assessment of the likely penetration of the Kubernetes containers method and environment. Microsoft Ventures general manager and Europe and Israel managing director Mony Hassid said, "We decided to invest in Codefresh because of the company's unique solutions that enable organizations to successfully adopt Kubernetes." M12 invests mainly in rounds A to C by companies developing software for organizations. The fund also gives the companies in which it invests access to the strategic marketing capabilities of Microsoft and its partners in the global industry.

Codefresh was founded in 2016 by partners CEO Raziel Tabib and CTO Oleg Verhovsky. Verhovsky manages the development team in Israel. Tabib says, "The meteoric rise of Kubernetes is occurring so fast that the existing tools simply can't meet the technological pace, as M12 knows very well. The current round will enable us to significantly accelerate our development and marketing efforts and increase our market share."

Codefresh has 30 employees, including 15 in Israel. The company plans to increase its staff in Israel and hire leading engineers in the forefront of technology. Codefresh's customers include UNICEF, ARM, Le Figaro, Giphy, and CBS.

Figures from the Research 451 company show that the containers market is likely to reach $2.7 billion by 2020. Over 80% of the organizations developing software using containers have already begun to adopt the Kubernetes environment, realizing that the tools for managing containers and efficient and systematic deployment of software in cloud environments are critical for success.

Published by Globes [online], Israel business news - www.globes-online.com - on June 27, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

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