CoderPad Raises Growth Capital from Summit Partners

Technical assessment leader is poised for accelerated growth as organizations seek to bolster their remote hiring processes for top-tier technical talent

SAN FRANCISCO & MENLO PARK, Calif.--(BUSINESS WIRE)--Summit Partners today announced that it has closed on a growth funding round in CoderPad, a leading platform for assessing technical skills. The new growth funding will help fuel hiring and continued expansion for the already-profitable company as CoderPad scales to meet increasing demand for remote technical interview solutions.

Built by engineers, for engineers, CoderPad is on a mission to fix the technical interviewing process. The company offers a collaborative programming environment that helps hiring organizations efficiently and accurately assess technical skills of candidates. CoderPad launched in 2013. The company has been profitable since its start and has grown revenues 50% over the past year. The company serves over 1,700 customers, from startup organizations to some of the world’s largest and most sophisticated technology employers, including Dropbox, Lyft, Spotify and Quora. Customers have conducted more than 2.5 million technical interviews on the CoderPad platform.

“The traditional whiteboard-focused technical hiring process is becoming obsolete, and this trend has only accelerated as a result of the COVID pandemic,” said Amanda Richardson, CEO of CoderPad. “At the same time, we’re seeing more incredible technical talent entering the labor market than we’ve seen in a long time. CoderPad’s platform is designed specifically to help organizations hire better candidates faster in a real-world setting, allowing the best technical candidates to demonstrate the depth of their skills and employers to efficiently identify and assess talent that can add value quickly.”

CoderPad creates a realistic software development environment that is designed to allow the interviewer to collaborate, in real time, with the code being written by a candidate and view the results when the code is executed. With built-in video conferencing, the interview session is recorded for review by other hiring managers. CoderPad supports more than 30 programming languages for use during the interview process.

“Across end markets, we are seeing companies that are increasingly driven by software and technology, and organizations that require robust, remote, unbiased tools to identify, assess and attract top-tier technical talent. CoderPad is helping to fulfill that need with a platform that is used daily, at significant scale,” said Colin Mistele, a Principal with Summit Partners who serves on the CoderPad Board of Directors. “The company’s growth in customer count and revenues to-date has been impressive; the business is profitable and driving rapid growth in a highly capital efficient manner. We are excited to partner with Amanda and CoderPad’s growing team to help invest in the product, scale the organization and drive continued leadership in what we believe is an increasingly important software category.”

“CoderPad is a product- and engineering-led company, committed to helping technical talent find their next opportunity – and helping development organizations identify their next great hire,” added Amanda Richardson. "We’re excited about the tremendous opportunity ahead for CoderPad as we build on this momentum, further develop the product and continue expanding our team.”

About CoderPad

CoderPad is a simple yet powerful online technical assessment software that makes it easy to interview in the candidate’s language of choice so hiring managers can quickly get a quality signal of an engineer’s skills. We empower customers around the world to screen and interview best-in-class engineers with our comprehensive and flexible technology, responsive customer success team, and devotion to a great candidate experience. Headquartered in San Francisco, CoderPad serves over 1,700 customers and has hosted more than 2.5 million technical interviews in 30+ languages. Visit www.coderpad.io for more information.

About Summit Partners

Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $20 billion in capital dedicated to growth equity, fixed income and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 500 companies in technology, healthcare and other growth industries. These companies have completed more than 140 public equity offerings, and more than 190 have been acquired through strategic mergers and sales. Notable technology companies backed by Summit Partners include Avast, A Cloud Guru, Gainsight, Klaviyo, Podium and Smartsheet. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, please see www.summitpartners.com or on follow on LinkedIn.

In the United States of America, Summit Partners operates as an SEC-registered investment advisor. In the United Kingdom, this document is issued by Summit Partners LLP, a firm authorized and regulated by the Financial Conduct Authority. Summit Partners LLP is a limited liability partnership registered in England and Wales with registered number OC388179 and its registered office is at 11-12 Hanover Square, London, W1S 1JJ, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.