Code Climate Raises $8.5m in Series B Funding to Expand Its Engineering Intelligence Platform

Code Climate | May 12, 2020

  • Code Climate has raised $8.5M to expand their Engineering Intelligence platform to deliver a single source of truth for data-driven engineering departments.

  • Code Climate launched Velocity, an Engineering Intelligence solution that delivers deep insights for every level of the organization.

  • Code Climate will also be further investing in their open, extensible Engineering Data Platform to connect information across DevOps systems.


Code Climate has raised $8.5M in Series B funding to expand their Engineering Intelligence platform to deliver a single source of truth for data-driven engineering departments. The round was led by Foundry Group with existing investors Union Square Ventures, NextView Ventures, Lerer Hippeau Ventures, and Trinity Ventures participating.

The long-term success of most businesses depends on engineering excellence-but historically, software development has been a black box. In a world that is becoming increasingly software-dependent, we need objective, actionable insights to measure and improve how the engineering department works.

- CEO Bryan Helmkamp


Two years ago, Code Climate launched Velocity, an Engineering Intelligence solution that delivers deep insights for every level of the organization. Managers are empowered to diagnose and action process improvements with their teams, while executives get high-level insights into how the department is progressing. Customers like Gusto, BBC, and Condé Nast report that Velocity enables them to ship software 20% faster, driving innovation and accelerating digital transformation. Propelled by these results, Velocity revenue has grown over 300% in the past year.

Read more: Uptime.com Reveals Trends Driving Site Reliability Engineering in Its Annual Downtime Report

The team plans on using the funding to accelerate adoption and expand the predictive, AI-powered insights powering Velocity. Code Climate will also be further investing in their open, extensible Engineering Data Platform to connect information across DevOps systems. This holistic visibility helps engineering leaders advocate for their department while also playing a more strategic role in the organization as a whole. Engineering work can then be more directly tied to important business initiatives, like driving top-line revenue growth and increasing customer engagement.

No one doubts the significance of innovation speed—but also no one measures it. Code Climate's Velocity finally gives organizations a clear path to achieving engineering excellence and winning markets.

- Lindel Eakman from the Foundry Group


Read more: Engineering Service Provider Will Enable Casting Traceability for DGS Druckguss Systeme

About Code Climate:

Code Climate helps software engineering organizations achieve excellence with data-driven insights. Founded in 2011 and based in New York City, their Engineering Intelligence products, Velocity and Quality, are trusted by over 1,000 companies from start-ups to enterprises.

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ENGINEERING TECH,CONSTRUCTION

Green Canopy NODE Launches Equity Crowdfunding Raise to Democratize Investment, Now Live on StartEngine

Green Canopy NODE | December 02, 2022

Green Canopy NODE is pleased to announce the launch of its first crowdfunding campaign, now available for investment to the public on StartEngine. The Seattle-based construction technology, real estate development, and fund management company has long believed that investment in private companies should be democratized. Launching this campaign allows everyone, not just institutional or accredited investors, to invest in revolutionizing the construction industry to build more sustainable, healthy homes faster. "We are excited about crowdfunding because it gives more people an opportunity to be a part of transforming how homes are built while at the same time offering real positive social and environmental impact for our communities and the planet, When individuals with normal incomes align their values to their investments, they become direct participants in positive transformation with us –they become impact investors for a better world." -Co-CEO Aaron Fairchild. Green Canopy NODE is raising capital to scale its technology development with innovative construction products that simplify construction while boosting productivity – building faster and more sustainably. The company leverages its integrated construction ecosystem, proving product-market fit on-site through its certified green real estate development pipeline and real estate funds. In 2023, Green Canopy NODE plans to install millions of dollars worth of utility and structural products on site and develop a new region of expansion across the US – selling to other developers and builders directly and through channel partners with its configurable product catalog. "Our roadmap is clear – we're here to scale healthy and sustainable homes from everyone, Given the labor and supply shortages, traditional homebuilders simply can't produce enough. It's time to revolutionize the industry, and we see our integrated construction ecosystem as the model required for scale." -Co-CEO Bec Chapin. The vertically integrated company is also an experienced fund manager. Green Canopy NODE Capital has successfully launched and managed four real estate funds and is soon to launch its pioneering fifth fund on mass timber. Learn more about Green Canopy NODE's offering and how to invest at www.startengine.com/greencanopynode. About Green Canopy NODE: Green Canopy NODE is an integrated construction technology, real estate development, and fund management company. Over its history, it has sought to embrace the innovation required to change the current paradigm of housing development and deliver on its commitment to help regenerate communities and environments. The company works with its clients and investors to develop high-performing, deep green, all-electric, and healthy housing.

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CONSTRUCTION

Construction Partners, Inc. Completes North Carolina Acquisition

Construction Partners | December 05, 2022

Construction Partners, Inc. (NASDAQ: ROAD) ("CPI" or the "Company"), a vertically integrated civil infrastructure company specializing in the construction and maintenance of roadways across six southeastern states, today announced that it has acquired Ferebee Corporation, a full-service hot-mix asphalt and paving company headquartered in Charlotte, North Carolina. With three hot-mix asphalt plants in the greater Charlotte/Rock Hill metro area, Ferebee provides asphalt contracting services for a variety of public, commercial and residential projects. Fred J. (Jule) Smith, III, the Company's President and Chief Executive Officer, said, "We are pleased to welcome Ferebee Corporation to the Construction Partners family of companies, expanding our geographic footprint into western North Carolina. As a platform acquisition, Ferebee creates another engine for growth driven by a talented and experienced team under the leadership of Chris and David Ferebee. This new platform company will capitalize on opportunities from the rapid growth occurring in the greater Charlotte/Rock Hill markets and surrounding areas. Through our two platform companies in North Carolina, we are now better positioned to serve the infrastructure needs of one of the fastest growing states in the country." Smith concluded, "Consistent with CPI's long-established consolidation growth strategy in the Southeast, this investment expands top-line revenue growth, drives margin expansion and increases relative market share. The Ferebee acquisition, coupled with our recent strategic sale of Daurity Springs Quarry and entry into the Nashville area, expands our operations into two fast growing markets while maintaining the Company's 2022 fiscal year-end leverage ratio. Additionally, we expect both of these new operations to be accretive to earnings in this fiscal year." About Construction Partners, Inc. Construction Partners, Inc. is a vertically integrated civil infrastructure company operating across six southeastern states. Supported by its hot-mix asphalt plants, aggregate facilities and liquid asphalt terminal, the company focuses on the construction, repair and maintenance of surface infrastructure. Publicly funded projects make up the majority of its business and include local and state roadways, interstate highways, airport runways and bridges. The company also performs private sector projects that include paving and sitework for office and industrial parks, shopping centers, local businesses and residential developments.

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CONSTRUCTION

Electrical Contractor Houle to Manage Hybrid Workplaces and Distributed Teams with Procore

Procore | November 16, 2022

Procore Technologies, Inc. (NYSE: PCOR), a leading global provider of construction management software, today announced that Houle Electric Ltd. has selected Procore Technologies as its construction management platform. Based in Burnaby, B.C., Houle delivers diverse construction services to industrial, commercial, institutional and residential customers, including construction management, design-build/design-assist and installation and retrofitting services. Its services include electrical construction, security and network systems, building automation, healthcare technology and integration. The company’s project portfolio includes hospitals, universities, shopping malls and industrial facilities. The Procore construction management platform will empower Houle to provide a centralized source of information for its project and administration teams, which enjoys a hybrid work environment at its offices in British Columbia with staff distributed across BC, Alberta and internationally. As construction becomes more complex, multi-trade collaboration has become more important. The platform will enhance Houle’s ability to communicate and collaborate with external partners, ensuring all project stakeholders have the most current information. With Procore it will be possible to assign tasks and track the contributions of staff and consultants, all in one place. “There’s a lot of complexity in managing distributed and hybrid teams, The volume of projects and information we’re working with has grown beyond the capabilities of manual tools. The Procore platform will enable us to keep everyone on the same page, wherever they are and whether they’re on our team or a partner. Our team appreciates the hybrid workplace we offer and this will make the experience even better.” -Keith Parsonage, President and CEO, Houle. Houle is committed to attracting the best talent in western Canada, and digitizing processes with Procore will also help Houle attract talent during the construction industry’s ongoing labour shortage. They can now double down on the quality of work they deliver to clients through a more standardized operation using Procore, said Jas Saraw, Vice President, Canada at Procore. This is exactly the kind of forward thinking we want to enable and enhance with our platform. Houle will enjoy rich information upon which to base its decision making, which will pay dividends for years to come. About Houle Electric: Since 1944, Houle’s been bringing communities to life. From airports, shipping terminals, and water treatment facilities, to hospitals, universities, and shopping centres, they deliver integrated electrical solutions for our industrial, commercial, institutional, and residential customers. While they are leaders in electrical construction, they also specialize in a wide range of in-house technology solutions, including building automation, healthcare technology, structured cabling, and security. As a certified Great Place to Work, and one of Canada's Best Managed Companies, they take pride in their talented people and collaborative culture that bring their client's vision to life. About Procore: Procore is a leading global provider of construction management software. Over 1 million projects and more than $1 trillion USD in construction volume have run on Procore's platform. Procore’s platform connects key project stakeholders to solutions Procore has built specifically for the construction industry—for the owner, the general contractor, and the specialty contractor. Procore's App Marketplace has a multitude of partner solutions that integrate seamlessly with Procore’s platform, giving construction professionals the freedom to connect with what works best for them. Headquartered in Carpinteria, California, Procore has offices in the United States, Canada and around the globe.

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CONSTRUCTION

LENNAR ANNOUNCES VISIONARY COMMUNITY OF 3D-PRINTED HOMES WITH ICON IS NOW UNDERWAY IN GEORGETOWN, TX

Lennar Corporation | November 11, 2022

Lennar, one of the nation's leading homebuilders, and ICON, a construction technologies company pioneering large-scale 3D printing, announced today that construction on the largest community of 3D-printed homes is underway and reservations will begin in 2023. Situated north of Austin in the city of Georgetown's master-planned community of Wolf Ranch by Hillwood Communities, a Perot company, the 100-home community combines innovative robotics, software and advanced materials to create homes that are technologically advanced, environmentally sustainable and architecturally striking. Each Lennar home in Wolf Ranch is co-designed by the renowned architectural firm BIG-Bjarke Ingels Group. Prices are anticipated to start from the mid-$400,000s. "We are very pleased to partner with ICON and BIG in building a first-of-its-kind, printed home community that combines innovative designs with sustainable features at an affordable price, Given the housing shortage that persists across the country, it has never been more important to innovate in order to find new methods of construction that will enable greater design flexibility and greater production at affordable prices." -Stuart Miller, Executive Chairman of Lennar. Blending contemporary Texas ranch style aesthetics, the community of 3D-printed homes features elevated architectural and energy-efficient designs that highlight the benefits of resiliency and sustainability with the digital possibilities of additive construction. Delivered at speed and at scale using a fleet of ICON's Vulcan robotic construction systems, software and advanced materials, each home's full wall system - including interior and exterior walls - are produced with less waste and with more design freedom. "For the first time in the history of the world, what we're witnessing here is a fleet of robots building an entire community of homes. And not just any homes, homes that are better in every way… better design, higher strength, higher energy performance and comfort, and increased resiliency, In the future, I believe robots and drones will build entire neighborhoods, towns, and cities, and we'll look back at Lennar's Wolf Ranch community as the place where robotic construction at scale began. We still have a long way to go, but I believe this marks a very exciting and hopeful turn in the way we address housing issues in the world." -Jason Ballard, co-founder and CEO, ICON. Construction at Wolf Ranch deepens a relationship that began with Lennar's investment in Austin-based ICON's series B financing round and offers a promising path toward an alternate method of delivering technology-driven homes that meet rising demand in desirable communities. In addition to state-of-the-art homes, Lennar homeowners in Wolf Ranch can enjoy all of the amenities offered in tree-covered hill country – including pools, recreational trails and parks within easy access of downtown Georgetown and a short drive to Austin. Lennar's investments are facilitated by LENX, which drives a focused strategy within Lennar to integrate technology solutions across the homebuilding industry. With a clearly defined strategy of investing in technology companies directly adjacent to Lennar's core homebuilding operations and a disciplined investment process, LENX provides hands-on mentorship and guidance from senior leaders of Lennar's management team and a marquee opportunity to provide products and technology to Lennar customers, allowing portfolio companies to scale at an unprecedented pace. The community will offer eight stunning floorplans with 24 unique elevations ranging from 1,574 to 2,112 square feet of thoughtful living space. The homes will offer three to four bedrooms and two to three baths. All homes will be powered by the sun with rooftop solar panels and will feature components from Lennar's Connected Home package including a Ring Video Doorbell Pro, a Schlage Encode™ Smart WiFi deadbolt and a Honeywell Home T6 Pro WiFi smart thermostat. Plus, each home will come equipped with the Wolf Ranch security package. We are excited to welcome Lennar and ICON's cutting-edge home construction technology to Georgetown, Georgetown Mayor Josh Schroeder said. The Georgetown community prides itself on honoring our past and innovating for our future, and we are eager to see the future being built right here. Hillwood Communities is honored that ICON and Lennar chose Wolf Ranch to launch this exciting initiative and we look forward to the positive impact it will bring to the homebuilding industry," said Fred Balda, president of Hillwood Communities. "This innovative approach aligns with Hillwood's long history of elevated design and the thoughtful development approach we take to ensure a higher standard of living for the residents of our communities." About Lennar Corporation: Lennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generations. Lennar builds affordable, move-up and active adult homes primarily under the Lennar brand name. Lennar's Financial Services segment provides mortgage financing, title and closing services primarily for buyers of Lennar's homes and, through LMF Commercial, originates mortgage loans secured primarily by commercial real estate properties throughout the United States. Lennar's Multifamily segment is a nationwide developer of high-quality multifamily rental properties. LENX drives Lennar's technology, innovation and strategic investments. About ICON: ICON develops advanced construction technologies that advance humanity. Using proprietary 3D printing robotics, software and advanced materials, ICON is shifting the paradigm of homebuilding on Earth and beyond. About BIG – Bjarke Ingels Group BIG-Bjarke Ingels Group is a Copenhagen, New York, London, Barcelona, and Shenzhen-based group of architects, designers, urbanists, landscape professionals, interior and product designers, researchers, and inventors. Led by Bjarke Ingels, the studio is currently involved in projects throughout Europe, the Americas, Asia, and the Middle East. BIG's architecture emerges out of a careful analysis of how contemporary life constantly evolves and changes. BIG believes that by hitting the fertile overlap between pragmatic and utopia, architects can find the freedom to change the surface of our planet, to better fit contemporary life forms. About Hillwood: Hillwood, a Perot company, is a premier commercial and residential real estate developer, investor and advisor of properties throughout North America and Europe. Through its Communities division, Hillwood has delivered more than 40,000 single-family lots in more than 100 master-planned communities across 13 states and Costa Rica. These communities continue to raise the bar in terms of quality, innovation and the unmistakable sense of community that sets each property apart. Before laying the physical groundwork for any new residential development, Hillwood Communities takes the time to focus on the ideals that draw people together — and the everyday interactions that strengthen those bonds. By purposefully designing its walkways, gathering spaces, and structural amenities to spark spontaneous encounters and foster shared interests, Hillwood Communities believes in the power of community. About the City of Georgetown: Georgetown is a welcoming, vibrant city that has been ranked No. 1 in Southern Living Magazine's "South's Best Cities to Live in" and is home to the "Most Beautiful Town Square in Texas." Georgetown has a rich history, with Victorian storefronts and a cultural district with a wide selection of restaurants, wineries, shops, art galleries, theaters, and museums, as well as Southwestern University, tied for the No. 1 National Liberal Arts College in Texas in the latest U.S. News & World Report ranking. Outdoor recreation includes 40 parks, 16 miles of hiking and cycling trails, and Lake Georgetown. Georgetown is the fastest growing city in the U.S. with a population of more than 50,000.

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