P101 leads €6m funding round for Codemotion

P101 injected €3.5m into the company from two vehicles, Programma 102 and ITA500, a co-investment fund raised with Italian asset manager Azimut. The remaining €2.5m was deployed by previous backers CDP Venture Capital and Primomiglio.

This is the sixth investment made by Programma 102 fund, which was launched with a €120m target and held a €65m first close in May 2018. The fund targets Italian digital and tech startups offering B2C and B2B services to the food, fashion, design, travel, real estate, fintech and cybersecurity sectors.

The company plans to use the fresh capital to accelerate its growth across Europe, develop new features and tools, and further scale up its community of users.

Previous funding
Codemotion raised a €1.5m seed round from Primomiglio, which invested via its Barcamper Ventures fund, CDP Venture Capital – at the time known as Invitalia - and L Venture Group in 2017.

Company
Established in 2013, Codemotion is an e-learning and recruiting platform for web developers and software engineers.

It connects developers with tech communities, startups and companies and expand their network of contacts. The company offers e-training and courses to help developers improve and enlarge their professional skills. It also organises tech conferences and seminars across Europe and promotes a Codemotion Kids initiative, to help children and teenagers aged 6-18 learn how to code.

The platform is used by 500,000 developers, 200 tech communities and more than 300 companies.

Headquartered in Rome with branches in Spain, Holland and Germany, Codemotion employs 50 staff and expects to exceed revenues of €30m by 2023.

People
P101 - Andrea Di Camillo (founder, managing partner).
Codemotion - Chiara Russo (CEO, co-founder); Mara Marzocchi (co-founder).

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• Topics
• Expansion
• Southern Europe
• Technology
• Support services
• Venture
• Italy