Nx, a pioneering startup streamlining software development through a unified code repository, proudly declares its successful completion of a Series A funding round, raising $16 million (equivalent to approximately €15 million) from Andreessen Horowitz.
The latest funding round, spearheaded by Nexus Venture and Andreessen Horowitz, is earmarked for the expansion of Nx Cloud—a fully managed product designed to supplant tools like Jenkins.
This announcement follows a successful seed funding round conducted ten months ago, which saw Nx raise $8.6 million, co-led by Nexus Venture Partners and Andreessen Horowitz.
The company is channeling its resources into bolstering its SaaS revenue and broadening its portfolio of enterprise clientele. Nx is actively recruiting to meet the surging demand for its services and enjoys a substantial funding runway exceeding two years.
Jeff Cross, co-founder of Nx, underscores the shift precipitated by the pandemic, stating, “With all development teams going remote during the pandemic, companies have become acutely aware of the challenges and inefficiencies associated with siloed development and the advantages of adopting ‘monorepos’ that remain current.”
He goes on to explain, “Many companies are offering comprehensive solutions for the developer experience, which can overwhelm decision-makers with an abundance of choices. Our approach is more prescriptive and tightly focused.”
Nx: Streamlining the Software Development Process
Back in 2016, former Google employees Victor Savkin and Jeff Cross co-founded Nx with the aim of simplifying the storage of libraries and applications within a code repository.
The company’s flagship product, Nx Cloud, plays a pivotal role in enabling product development teams to expedite feature delivery by consolidating various components of their projects into a unified repository. Nx Cloud employs intelligent build strategies to optimize performance, including building only what’s necessary, caching outputs, and efficiently distributing workloads.
Nx has achieved significant growth, doubling its enterprise customer base and quintupling its SaaS revenues thus far.
About Andreessen Horowitz
Andreessen Horowitz (A16z) is a leading venture capital firm at the forefront of technology and innovation. Founded by Marc Andreessen and Ben Horowitz, A16z is renowned for its deep industry insights and unwavering commitment to supporting entrepreneurs and startups in their quest to transform industries and shape the future.
With a diverse portfolio spanning a wide range of sectors, A16z provides not only capital but also expertise, mentorship, and a vast network of resources to help promising companies thrive and make a lasting impact in today’s dynamic business landscape.