Codemotion completes an 8 million euro round to continue growing in Italy and abroad

Codemotion, the leading platform for the professional growth of developers and companies looking for the best IT talent, announces an 8 million euro investment round led by Sinergia Venture Fund, a Venture Capital fund specialized in B2B scale-ups. A selection of Italian and international partners participated in the round, including Azimut Digitech Fund (with Gellify as advisor), Endeavor Catalyst, Primo Ventures, P101 with Italia 500 and CDP Venture Capital through Fondo rilancio startup.

Codemotion is a digital platform that supports the largest community of developers in Europe, with over 250,000 active professionals. It offers upskilling content and events, career and networking opportunities, and a network of over 300 companies and startups interested in hiring tech talent. In 2022, it launched Codemotion Talent, a matchmaking service that is revolutionizing how companies search and select IT profiles – who are among the most difficult to choose and retain. Thanks to a machine learning algorithm, it creates the “perfect match” between the career aspirations of professionals and the companies’ needs. Consultants are available to support client companies and developers throughout the process.

This new capital increase brings Codemotion’s total funding raised to 15.5 million euros, adding to the previous operations in which the company received the support of P101, Primo Ventures, CDP Venture Capital SGR and LVenture Group.

The investment round will further enhance Codemotion’s platform, introducing new features to increasingly meet the needs of developers and services for companies, ranging from attraction to selection up to developer retention (thereby reducing the rate of company turnover). Furthermore, the development of Codemotion Talent will continue, and today, less than a year after its launch, it is already trusted by more than 5,000 developers who are looking for a new job.

In addition, the resources collected will allow Codemotion to continue working towards its targets of internationalization, reaching one million active developers on the platform by 2025, thus establishing itself in Europe as a point of reference in the sector. In 2023, the company will focus on growing in Italy, strengthening its presence in Spain, opening two new markets, and evaluating M&A operations. Furthermore, to support this growth, the plan is to hire a significant amount of international talent.

“This round represents an important acknowledgement of the results achieved in recent years and a starting point for a new chapter of Codemotion focused on international growth and the export of our model to new European markets”, declares Chiara Russo, CEO and Co-Founder of Codemotion. “In a time of strong demand for software developers by many companies, Codemotion contributes to creating new opportunities in the digital innovation ecosystem, supporting, on the one hand, IT professionals in their professional growth and, on the other, companies that want to hire tech talent”.

“Codemotion operates in a rapidly growing market”, adds Simone Cremonini, Managing Partner of Sinergia Venture Fund. “Today, all companies – of any size – need to hire developers, and Codemotion has two fundamental assets to meet this need: on the one hand, the largest community of developers in Europe; on the other, a business model built over the years around this community, which has a great potential for growth at an international level. We are excited to work alongside the Codemotion team to accelerate its growth in Italy and Europe“.