Tech firm’s £400k boost to support expansion

ONE of Wales’ most promising tech firms, Codeherent, has been boosted with a £400,000 funding round to support its expansion plans.

The Newport-based firm, which came out of the graduate entrepreneurship programme from the Alacrity Foundation, has been backed by original investors Wesley Clover, the Waterloo Foundation and angel investors, with the Development Bank of Wales as a new equity investor.

Codeherent had developed an intuitive software platform that enables businesses to manage their cloud infrastructure.

By centralising computer processing and storage facilities in data centres, cloud computing allows organisations to avoid the up-front costs associated with the acquisition of inhouse IT infrastructure.

This latest investment will accelerate the development of Codeherent’s cloud visualisation and editing features. Businesses using Codeherent’s platform can reduce cloud costs, accelerate cloud adoption, and improve IT security. The company was awarded initial investment after graduating from The Alacrity Foundation.

Covid-19, and the resulting global lockdown, has triggered an explosion in the use of cloud-based applications such as Zoom. The cloud computing market is forecast to expand 17% this year.

However, Codeherent believes that only a small minority of businesses know how to maximise the potential of cloud because of a lack of shared knowledge about Infrastructure as Code (IaC). IaC is the management of computer infrastructure using software tools.

Codeherent managing director Paul Sheehan said: “With heightened emphasis on the criticality of excellent technology infrastructure, all businesses should be able to maximise the benefits of Infrastructure as Code to speed up software delivery, reduce costs, and improve product quality. Whether it is because of a skills gap, a lack of knowledge, or an inability to deploy it at scale, Infrastructure as Code needs to be made more accessible to a wider cross-section of the business community. We’re excited to launch our platform into that space.”

Dr Carl Griffiths, Development Bank of Wales’ technology seed fund manager said: “Our seed equity investments are helping to unlock the potential in exciting technology companies, with high-growth potential. At a time when businesses across the globe are digitally transforming to evolve and compete, Codeherent is providing an advanced cloud organisation and infrastructure solution.

“This equity investment marks our confidence in Codeherent’s ability to make a significant difference to the business world as it adopts new ways of working.”