Total amount raised
$112.7 Millions
Latest funding date
9/1/2024
Location
Cortex has successfully raised significant capital through multiple funding rounds, including a notable Series C round. The platform serves as an internal developer portal, empowering engineering teams to enhance their productivity and efficiency.
Keep reading to explore the intricacies of Cortex's fundraising journey and the investors backing this innovative platform.
What Is Cortex?
Cortex, founded in 2019, is based in San Francisco, California. The company was established by Anish Dhar, Ganesh Datta, and Nikhil Unni.
As an internal developer portal, Cortex empowers engineering teams to enhance productivity by cataloging, scoring, and assigning actions to improve service quality and velocity.
With a team of 101-250 employees, Cortex continues to drive innovation in the developer platform space.
How Much Funding Has Cortex Raised?
- Seed Round
- Amount Raised: $150K
- Date: March 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial capital to develop the platform and validate the business model.
- Seed Round
- Amount Raised: $2.5M
- Date: May 2021
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series A
- Amount Raised: $15M
- Date: November 2021
- Lead Investors: Sequoia Capital, Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance platform capabilities.
- Series B
- Amount Raised: $35M
- Date: May 2023
- Lead Investors: IVP
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and invest in advanced features.
- Series C
- Amount Raised: $60M
- Date: September 2024
- Lead Investors: Scale Venture Partners
- Valuation at Round: $470M
- Motivation Behind the Round: To enhance platform capabilities, improve workflows, and strengthen AI features.
Total Amount Raised: $112.65M. Current Valuation: $470M.
Key Investors
- Scale Venture Partners
- Details: Scale Venture Partners is a venture capital firm that invests in early-in-revenue technology companies. They led the $60 million Series C funding round for Cortex.
- Investment Focus Areas: Enterprise software, SaaS, cloud infrastructure.
- Notable Investments: Box, DocuSign, HubSpot.
- Sequoia Capital
- Details: Sequoia Capital is a prominent venture capital firm known for investing in early and growth-stage companies. They participated in multiple funding rounds for Cortex, including the Series A, B, and C rounds.
- Investment Focus Areas: Technology, healthcare, consumer services.
- Notable Investments: Apple, Google, Airbnb.
- IVP (Institutional Venture Partners)
- Details: IVP is a later-stage venture capital and growth equity firm. They participated in the Series B and C funding rounds for Cortex.
- Investment Focus Areas: Technology, media companies.
- Notable Investments: Twitter, Slack, Snap.
- Y Combinator
- Details: Y Combinator is a startup accelerator that provides seed funding and support for early-stage startups. They participated in the Series C funding round for Cortex.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Airbnb, Dropbox, Reddit.
- Tiger Global Management
- Details: Tiger Global Management is an investment firm that focuses on public and private companies in the global Internet, software, consumer, and financial technology industries. They participated in the Series A funding round for Cortex.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Spotify.
What's Next for Cortex?
With a $60 million investment, Cortex is poised to enhance its platform capabilities, focusing on AI and engineering intelligence. This opportunity is substantial, given the increasing demand for productivity tools in software development. The involvement of high-profile investors like Sequoia Capital and Y Combinator suggests that future fundraising rounds are likely, providing Cortex with the financial backing needed to expand its market reach.
However, Cortex faces challenges such as intense competition and the need to continuously innovate. Keeping up with rapid technological advancements and meeting evolving client needs will be crucial. Despite these hurdles, Cortex's strategic investments and strong investor support position it well for future growth and potential acquisitions.
Use Clay to Get Funding Data
Sales professionals, take advantage of Clay's platform to access comprehensive fundraising data on companies like Cortex and gather other critical business insights. Sign up for free today and elevate your sales strategy with the power of detailed, actionable information.
