Nx, a Gilbert, AZ-based startup that simplifies software development with a single code repository, secured $16 million in Series A funding.
SaaS Investors
Nexus Venture and a16z led the funding round.
Founded in 2006, Nexus Venture Partners is a venture capital firm that supports extraordinary founders in building product-first companies. The firm prefers to invest in seed, or series-A, companies. With $2.6 billion in capital under management, Nexus focuses on two primary investment areas: enterprise software companies globally and technology-powered businesses within India.
Andreessen Horowitz (aka a16z) is a venture capital firm that backs bold entrepreneurs building the future through technology. The firm invests in seed- to venture-stage growth-stage technology companies, across AI, bio + healthcare, consumer, crypto, enterprise, fintech, games, and companies building toward American dynamism. a16z has $35B in assets under management across multiple funds.
Nx Use of Funds
The funding will be used to expand Nx Cloud and grow the company's enterprise customer base.
About Nx
Founded by Victor Savkin and Jeff Cross, Nx is a SaaS startup that aims to simplify software development by offering a single-code repository solution. Nx's primary product, Nx Cloud, consolidates various components of products into a single repository to assist product development teams in delivering features quickly. The platform utilizes smart build methods to improve performance, such as building what's needed, caching outputs, and distributing work efficiently. Nx focuses on the JavaScript ecosystem but is language-agnostic, allowing developers to write private or open-source plugins for specific languages or frameworks.
Funding Details
Company: Nx
Raised: $16.0M
Round: Series A
Funding Month: September 2023
Lead Investors: Nexus Venture and a16z
Additional Investors:
Company Website: https://nx.dev/
Software Category: Developer Tools
Source: https://siliconcanals.com/news/startups/a16z-backs-nx-in-15m-round/