Code Intelligence receives twelve million US dollars

The start-up has thus successfully completed its Series A financing round.

Code Intelligence, a specialized platform for fuzzing, automated security testing of applications, based in Bonn, has raised twelve million US dollars in its Series A financing round. Investor Tola Capital is leading the round. Existing investors LBBW, Occident, Verve Ventures, High-Tech Gründerfonds (HTGF) and Thomas Dohmke, CEO of Github, also participated. The company's total financing now stands at around 15.7 million US dollars.

The start-up was founded in 2018 by Sergej Dechand, Khaled Yakdan and their former professor at the University of Bonn, Matthew Smith. "Back then, we realized that fuzzing and some other techniques were super powerful, but nobody outside the security research community was really using them," says Dechand. He emphasized that while there were many open-source fuzzing tools, it still required a knowledgeable security team: "At the end of the day, they are the ones who fix the bugs and know best what kind of bug is critical." According to the start-up, companies such as Bosch, Continental and Deutsche Telekom are currently using Code Intelligence.