New investors include Skype and Kazaa co-founder Jaan Tallinn
Cambridge, UK, 29 April 2014 ---- Undo Software today announced a third funding round of $1.25 million, which will be used to scale the business and support the growing adoption of its UndoDB record-and-replay reversible debugging software. Investment comes from existing backers within the Cambridge Angels group and new investors, including Jaan Tallinn, one of the original founders of Skype and Kazaa, and now co-founder of the University of Cambridge-based Centre for the Study of Existential Risk. The oversubscribed funding round closed in April 2014.
Undo provides solutions for reversible debugging of Linux and Android software, enabling developers to record their program’s execution and then rewind their code in real-time to find bugs more quickly, saving time and reducing cost. Its performance is several orders of magnitude better than open source solutions, with significantly improved memory consumption.
“What attracted me to Undo was the sheer usefulness of its software, combined with the strength of the management team’s vision for growing the business,” said Jaan Tallinn, investor and part of original founding team of Skype and Kazaa. “In my career as a developer I’d have loved to have had access to UndoDB, and with software now critical to the world around us, the addressable market for this technology is potentially huge.”
In January 2014 the company announced plans to expand its workforce by over 30% and moved into new Cambridge offices, which are four times larger than the previous headquarters. This builds on several major milestones achieved in 2013. ARM integrated the company’s UndoDB software into ARM DS-5 Professional Edition, its flagship software development studio; sales expanded within multiple markets, including enterprise, design automation and scientific computing, and the company launched UndoDB version 4, which supports ARM processors and Android Native.
“Undo is at an exciting time in its development, and this oversubscribed funding round demonstrates the potential for the business,” said Greg Law, CEO and co-founder, Undo Software. “The support of our investors will enable us to scale the company and expand operations, grow our customer base and help more businesses speed up software development and reduce their costs.”
According to recent Cambridge University research, the global cost of finding and removing bugs from software has risen to $312 billion annually – and that it makes up half of development time of the average project. As software becomes more complex, and its use extends further to control everything from cars to cash machines, the consequences are now potentially even more serious, both financially and to company reputation.
About Undo Software
Undo Software is the leading commercial supplier of Linux and Android software development solutions for record-and-replay reversible debugging. Practical in execution time and easy to integrate, UndoDB improves productivity, time to market, and brand reputation while increasing the ingenuity of developers during debug. Customers across multiple vertical market segments use UndoDB to reduce software development debug from weeks to minutes. Undo Software is a privately held company headquartered in Cambridge, UK. For more information, see:
http://undo-software.com/ or follow us on Twitter at
www.twitter.com/@undosoft.
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Chris Measures
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