US-based software engineering technology developer Pinpoint has raised $13.5m in a series A round that included media group Bloomberg and messaging software provider Slack.
Bessemer Venture Partners led the round, which included fellow venture capital firms Storm Ventures, Boldstart Ventures, Social Capital and Cherubic Ventures. Bloomberg and Slack took part through respective corporate venturing subsidiaries Bloomberg Beta and Slack Fund.
Founded in 2016, Pinpoint has built a platform that analyses the efficiency, costs and performance of an organisation’s software engineering processes, applying machine learning technology from external software lifecycle systems optimise the software development teams.
The company closed a $3m seed round in May 2017 that was co-led by Boldstart Ventures and Storm Ventures and backed by Bloomberg Beta, Slack Fund and Social Capital, according to VentureBeat.
Pinpoint chief executive Jeff Haynie said: “Software engineering is home to some of the most creative and technically astute minds in any company, but we are behind in one really important way. Namely, being able to show our contribution to the business.”