Koding raises $7.25 million Series B
Koding, a San Francisco-based cloud development environment, has raised a Series B round of funding worth $7.25 million, according to an SEC filing. Josh Hannah of Matrix Partners is listed as a director, which means the firm led the round. Koding previously raised $2 million from RTP Ventures and Greycroft Partners. Angel investors included Rich Chen, formerly of Google, Roger Krakoff, CEO of CloudCapital, Demian Sellfors, CEO of Media Temple, Bob Pasker, and Nihal Mehta CEO of Localresponse.
The point of a browser-based code editor is to make it easier for engineers to get set up and begin writing code. Once they're set up, Koding makes it easy to collaborate, write code, run apps and even host the code all within its system.
Koding has proven its own popularity: when the company raised its Series A in March it had 40,000 coders signed up; it now has 200,000 users on its wait list for test out private beta, Yasar says. The company will monetize with a model similar to Github, he says -- free for individuals use ("forever"), but corporate accounts and places like universities will pay a subscription fee for private workspaces.