Code Intelligence receives twelve million US dollars

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

Code Intelligence, a specialized platform for fuzzing, automated application security testing, based in Bonn, Germany, has raised $12 million in its Series A funding round. Investor Tola Capital led the round. Existing investors LBBW, Occident, Verve Ventures, High-Tech-Gründerfonds (HTGF) and Thomas Dohmke, the CEO of Github, also participated. The company's total funding now stands at around $15.7 million.

The startup was founded in 2018 by Sergej Dechand, Khaled Yakdan and their former professor at the University of Bonn, Matthew Smith. "At the time, we found that fuzzing and some other techniques were super powerful, but no one outside the security research community was really using them," Dechand said. He emphasized that while there were many open-source fuzzing tools, it still took a knowledgeable security team, "At the end of the day, they're the ones who fix the bugs and know best what kind of bugs are critical." Today, companies such as Bosch, Continental and Deutsche Telekom use code intelligence, according to the startup.