Armenian CodeFights startup receives USD 10mln investment

Armenian CodeFights startup announced the receipt of USD 10 million investment yesterday.

The Series A round was led by e.ventures. Other participants of the round were SV Angel, Felicis Ventures, A Capital and Granatus Ventures.

CodeFights is a platform helping test and improve coding skills through a game, in the competition with other users.

CodeFights founder and CEO Tigran Sloyan told TechCrunch that the company’s user base has grown 10 times since the USD 2.4 million seed funding round in April 2015.

CodeFights is going to spend the invested sum to scale its engineering, operational and sales teams. The company also works on introduction of new education tools to teach new skills to beginners and professional developers.

Developers register on the platform and play with each other or the company’s bots. Finally, some players become leaders, and people get points that show their progress in skill development with time.

Companies can use the platform for free too until they hire a developer from the platform. In that case CodeFights takes fee in amount of 15% the hired developer’s one year salary.