UK-based software debugging technology developer Undo raised $14m yesterday in a series B round led by Cambridge Innovation Capital (CIC), the patient capital fund affiliated with University of Cambridge.
Parkwalk Advisors, the fund management arm of commercialisation firm IP Group, also participated in the round together with aerospace, defence and property group Marshall of Cambridge’s investment arm, Martlet.
VC firm Global Brain also supplied capital, as did property asset manager Rockspring, syndicate Cambridge Angels, and private investors Peter Michael and Jaan Tallinn.
Founded in 2005, Undo has developed a software debugging platform that enables developers working with the Linux and Android operating systems to identify critical errors and bugs before shipping their products.
The underlying “record, rewind and replay” technology emulates the execution of software exactingly, storing snapshots of the program’s performance at specific intervals.
The system is currently compatible with the C and C++ coding languages, but Undo will use the series B capital to build out its software development team and add support for programming languages such as Java and Python. The company will also enter the US.
CIC led Undo’s $3.3m series A round in 2016 with support from Martlet, Rockspring, Cambridge Angels, Michael and Tallinn. CIC had already joined Cambridge Angels for a $2m round the previous year.
Undo secured $1.3m in 2014 from backers including Cambridge Angels and Tallinn, following a 2012 round of undisclosed size backed by Cambridge Angels.
Christou said: “Undo is typical of the sort of business in which CIC invests. It has innovative technology, which addresses the challenges brought about by the problem of software accountability.
“Undo has built a commercially applicable solution to a real market need and is a testament to the high calibre of businesses that are flourishing in the Cambridge cluster.
“We are very pleased with the progress Undo has made since we first invested in 2015 and are delighted to continue to support the business as it gains further commercial traction.”
