NEWS RELEASE: Undo, developers of innovative software execution record & replay technology, raises $14 million in Series B financing
Funding for Cambridge-based firm led by Cambridge Innovation Capital, with new investors Global Brain Corporation and Parkwalk Advisors joining the round
Cambridge, UK – July 16, 2018 – Undo, a pioneer in the development of new software debugging technologies, announced it has closed a $14 million Series B financing round. Led by Cambridge Innovation Capital (CIC), a Cambridge-based builder of technology and healthcare companies, the funding will be used to grow Undo’s software development team, accelerate its product development and expand its US operations.
New investors include Global Brain Corporation, a Japanese venture capital fund, and Parkwalk Advisors Ltd which invests in innovative UK technology companies. All existing investor groups participated in the round, including Rockspring, Martlet, Sir Peter Michael (founder of Quantel, Classic FM and California’s Peter Michael Winery), the Cambridge Angels group and Jaan Tallinn (co-founder of Skype and Kazaa).
Undo is setting a new standard in software debugging through its program execution record & replay technology, allowing vendors of complex Linux applications to quickly diagnose severe software failures in test or in production and fix critical bugs that are impossible to reproduce (and therefore fix) by any other means. Undo’s solution supports C/C++ applications today and it plans to use part of the funding to expand its language support to include Java, Python and others.
Greg Law, Undo’s CEO and co-founder, said:
This Series B funding round will allow us to scale our commercial and customer success capacity.
When an application crashes at a customer site, it is often impossible to obtain a complete picture of what happened. Yet software engineers need to know exactly what blew up where if they are going to fix the issue. Instead of a development team flailing around with unhelpful log files and core dumps, leaving clients irate whilst they are waiting for a vital fix, engineers can capture critical production failures ‘in the act’ in the form of a recording, turning failures into 100% reproducible events. The recording can then be analysed using Undo’s reverse-debugger either at the customer site or back at base.
Undo’s record, rewind and replay technology is also used by application vendors who would rather diagnose and fix serious software defects before they cause havoc in production.
Undo’s vision is to apply its unique technology to address the emerging $1trillion software accountability problem - for example, when the Courts need to determine why a self-driving car hit a pedestrian or when a bank is asked by its regulator to explain a suspect series of trades, or when Congress wants to know what lay behind certain behaviour from a social networking website.
Greg Law explains:
The world is entering a new era where software is beginning to make decisions that underpin our lives, our livelihoods, and even western democracy itself; software accountability is fast becoming a very big problem, now recognised by software companies, the major economic players, and governments.
Victor Christou, CEO of CIC adds:
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.
Undo secured its first seed funding in 2012 when the company was based in Greg’s garden shed. Today Undo’s products are used by many of the world’s biggest software companies including SAP, Micro Focus and Mentor Graphics, and its technology has received numerous awards, including the arm ‘Best Software Product’ and the Gartner ‘Cool Vendor’ awards.
Clarity PR (for Undo)