BRISBANE, 26 June, 2019
- Codebots, a Brisbane-based mobile and web development platform, has secured $1.4 million in funding from leading North Queensland investment group Evolution Financial, and private investors. The investment closes Codebots' series A capital raise, and launches the startup into the next phase of product and business development.
Evolution Financial were founding investors in EcoFibre, which listed on the ASX in March this year. EcoFibre's initial public offering (IPO) was valued over $300 million, and soared to over $500 million by the close of day one.
Brad Stewart, Evolution Financial's Lead investor, says Codebots' mission to help organisations achieve business agility by finding their software and people fit is going to change the way the world thinks about business and technology.
"The rapid pace of technological transformation in the last couple of decades has sparked conversations and fear that AI will eventually replace humans in all aspects of work. Codebots is eradicating such theories, leading the world down a path where humans and bots work together to create ground-breaking solutions for complex business problems."
Codebots will use its series A funding to initiate the next phase of its business roadmap, expanding the platform and continuing global expansion. A significant percentage has also been allocated to stock options that reward and inventivise employees.
Codebots CEO and founder Dr Eban Escott says legacy systems are the number one global contributor to a loss of business agility, so a continuous modernisation mindset is crucial as organisations scale up.
"Our focus now is to partner with experienced software development delivery teams, and make continuous modernisation universally achievable."
Codebots was 2018's Queensland Startup of the Year at the national iAwards, and has been recognised for a number of other awards and merits in several national and international innovation and entrepreneurship competitions.
Codebots is an enterprise Platform as a Service (PaaS), that equips businesses with the tools required for digital transformation. "Codebots" are software robots that write to different tech stacks, capable of writing on average, 90% of an application's codebase. Partnering with codebots, development teams regain control of their software, unlock their data, and plan, build, test, and launch enterprise applications in the cloud, 8.3 times faster than standard development teams.
Media Contact: Indi Tansey, +61 405 681 776, firstname.lastname@example.org