Oxford B2B platform raises £8 million to set up US office
Oxford-based business analytics platform Semmle has raised an £8 million investment that will aid its move to a new permanent US office as well as the launch of a new cloud platform.
Semmle is a B2B platform that helps businesses lower software development costs and increase efficiency in production.
This is Accel Partners’ second investment in Semmle, after a $2 million boost in late 2011.
Semmle allows developers and managers analyse the software development process, aiming to reduce production and maintenance costs.
The business, which was founded in 2006 by Oege de Moor, a professor of computer science at the University of Oxford, now boasts several high profile clients including Citi, Credit Suisse, NASA and Dell.
Kevin Comolli, partner at Accel Partners, will join the board. He said: “Semmle’s impressive technical team has built a remarkable product with a unique breadth of functionality and significant commercial momentum. We look forward to supporting the company in its mission to bring data-driven transparency to the software development process.”