Productivity platform startup Cortex Applications Inc. announced today that it has raised $60 million in new funding to grow developer awareness around its internal developer platform and further its platform capabilities with enhanced workflows, engineering intelligence and artificial intelligence.
Founded in 2019, Cortex offers an internal developer platform that is designed to help companies catalog, score and assign actions to improve service quality and velocity, with the goal of allowing developers to prioritize work that drives a business forward.
At its core, Cortex is designed to assist engineering teams in managing their software development processes and does so by acting as a centralized information hub. Cortex provides a single source of truth that allows teams to quickly access information about software ownership, operational status and resource allocation, eliminating time wasted searching for critical data. By centralizing things such as service catalogs to compliance metrics, Cortex helps organizations maintain better visibility and control over their development environment.
In addition, Cortex aims to foster a culture of continuous improvement through its various features. The platform offers cataloging capabilities, enabling teams to centralize service ownership and resource information. The platform’s scoring and assessment features define minimum service requirements and continuously evaluate compliance to provide prescriptive guidance with actionable recommendations for improvement.
Cortex says it also significantly enhances developer productivity through the automation of routine tasks, such as ownership tracking and setup processes. The platform syncs with identity providers and incident management tools to automatically update software ownership and on-call information. It also provides predefined “golden paths” for development, reducing setup time and complexity when creating new software.
Notable Cortex clients include Adobe Inc., Grammarly Inc. and Opendoor Technologies Inc.
Scale Venture Partners LP led the funding round, with Sequoia Capital Operations, Institutional Venture Partners and Y Combinator Management also participating.
“We’re investing in Cortex because it’s solving two mission-critical issues for engineering teams: centralizing the information needed to understand, operate and build new software, and creating a culture of engineering excellence and continuous improvement,” said Scale Venture Partners partner Eric Anderson. “The world’s largest enterprises are betting on Cortex to drive the future of their developer experience.”
According to Bloomberg, the funding round was raised on a $470 million valuation.