New funding follows rapid growth of platform deployments for the system of record for engineering, with 400% increase in revenue in the last 12 months
SAN FRANCISCO–(BUSINESS WIRE)–Cortex, the leading internal developer portal (IDP), today announced $35 million in Series B funding led by IVP with participation from Craft Ventures in addition to existing investors Sequoia Capital, Tiger Global and YCombinator. Cack Wilhelm, General Partner, at IVP, joins the Cortex board of directors. This new round of funding will enable Cortex to deepen integrations and automation, in an effort to build the world’s most connected and intuitive IDP.
This event caps a record-breaking year for Cortex, with 400% YoY revenue growth, and new deployments in enterprise companies including TripAdvisor, Docker, Grammarly, Unity, and SoFi that use Cortex to quickly collect, contextualize, and templatize development best practices. Increased demand for Cortex has been fueled by an industry-wide shift to service-oriented architectures that are increasingly difficult to manage at scale.
“Developer productivity tops the list of engineering initiatives given the current macro, but while AI is speeding up developer work, time spent remediating issues risks cannibalizing any efficiency gains,” said Wilhelm. “Cortex has quickly become critical to many enterprises by eliminating the quality/velocity challenge – arming devs with the tools they need to work well, fast. We’re partnering with Cortex at this critical juncture to help them accelerate their growth as they support organizations on their journey to engineering excellence.”
Cortex’s industry-first approach to incentivizing adoption has also driven significant momentum in audiences already familiar with alternative commercial or open source IDPs. “Engineering teams are showing strong recognition of the importance of IDPs, and are committed to deploying and driving their adoption across their entire organizations,” said Ganesh Datta, Cortex co-founder and CTO. “Our platform provides a guided, yet flexible experience – bridging the gaps left by open source alternatives and an amalgamation of adjacent technologies like APMs, CI/CD, and metric monitors. Cortex helps teams understand what’s wrong and incentivizes improvement to drive a culture of ownership, reliability, and continuous improvement.”
“We initially chose Cortex to help us better align and document our services, but soon realized the full potential of the platform,” said Scott Dunbar, SVP Engineering Enablement, Sportradar. “We now have org-wide initiatives; to create a ‘golden path’ for developers, and to ensure healthy ‘golden metrics’ for our services. Cortex facilitates both in a way that just wasn’t possible before, allowing us to define standards for service quality, actively steer developers towards improvement, and bootstrap new projects. In turn, these initiatives directly impact developer productivity and provide visibility to several teams across reliability, security, platform, and leadership.”
“As career engineers with plenty of microservice horror stories, we built Cortex to help other developers abstract away the hardest parts of maintaining quality services, and to prove that doing so would predictably and measurably increase the pace of developer productivity at every organization,” said Anish Dhar, co-founder and CEO of Cortex. “With the help of our customers and the support and guidance they have provided, we have moved well beyond building the best service maturity platform to lead the market in IDPs. We are lucky to partner with such leading enterprises and are humbled by the rapid momentum that the platform has gained. We can’t wait to show the industry what’s next.”
About Cortex
Cortex is designed to give engineering teams comprehensive visibility and control over their microservices ecosystem. The Cortex Service Catalog is easily-integrated with engineering teams’ favorite tools, making it easy for them to organize critical information about their services and understand their dependencies. Cortex Scorecards and Initiatives allow teams to define standards and prescribe paths to improvement, measuring production readiness and development maturity. And Cortex Scaffolder and Actions enable teams to quickly build and deploy new services according to best practice. Together, the Cortex platform provides a single-pane-of-glass to visualize ownership, and impact lasting organizational change. Cortex is a YCombinator Company backed by Sequoia Capital, Tiger Global, and IVP. For more information, visit www.cortex.io or visit us on Twitter at @GetCortexApp.
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Mindshare PR
wilson@mindsharepr.com
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