Inventure joins €7.5M round for CodeScene, Swedish SaaS company

CodeScene, a Malmö-based company, which specializes in Software Engineering Intelligence (SEI), has received €7.5 million in funding. The round was led by Neqst, with participation from Luminar Ventures and Inventure. The company intends to use the funds to further enhance its technology and expand its customer base.

• Founded by Adam Tornhill, CodeScene specializes in Software Engineering Intelligence that uses patented algorithms and AI to provide developers with actionable insights into their codebases. The company’s analyses help teams identify technical debt, optimize software architecture, and improve code quality. Currently, CodeScene has users in over 75 countries.
• The fresh round was led by Neqst, a Swedish investment firm specializing in profitable growth companies within the software and IT-services sectors, with emphasis on the Nordic region.
• Stockholm-based Luminar Ventures and Helsinki-based Inventure Fund also joined the fresh round. In June this year, Inventure already led €13.7 million in Series A funding for Finnish startup Algorithmiq.

• This investment helps CodeScene to increase growth and presence in its current top five markets USA, Germany, United Kingdom, Netherlands, and India. It also enables the startup to further enhance its technology, and expand its customer base.