Uber alums’ engineering analytics startup Hatica has raised $3.7 million in a funding round led by Sequoia India and Southeast Asia’s Surge, they said Thursday.
The San Francisco-headquartered startup aims to boost the productivity and well-being of developers by helping them better understand how they are spending their time with detailed engineering analytics.
“There was no objective way to understand what would be a problem,” said Hatica co-founder and CEO Naomi Copra in an interview.
Chopra and his former Uber colleague Haritabh Singh (CTO) founded Hatica in 2020. They found that developers were contending with scores of distractions such as long-meetings and other interaction requests, a phenomenon that has become even more prevalent in the remote and hybrid work settings.
Hatica integrates with Git repository hosting services such as GitHub, Gitlab and Bitbucket; communication tools including Slack, Google Meet and Zoom; project management solutions such as Asana, JIRA and Trello; incident management offerings including OpsGenie, PagerDuty and VictorOps and CI/CD platforms such as Circle CI, Jetkins and Phabricator.
Once it gets the data, Hatica delivers performance metrics that are aimed at helping developers understand their cycle time, and help them with better allocation to improve the quality of their code and curb burnout. The insights can also help speed-up product deliveries and increase customer value streams.
Hatica has already onboarded many high-profile clients, including Amenify, Twitter, PayPal, Rakuten and Okta. The startup today serves over 20,000 developers and engineering leaders and is looking to eventually reach 30 million developers globally. Expanding its developer reach will help the startup boost revenues as it charges companies based on the number of developers that are utilizing its solution.
The startup touts to provide a 50% faster cycle time, a 2.1x improvement in planning and delivery accuracy and 40% surge in maker time — resulting in enhanced delivery velocity and well-being.
Hatica, which presently has a team of 22 people, plans to utilize the $3.7 million seed funding to expand its team and add new sales executives.
“We’ve captured a very small section of the market right now. So, there is an opportunity to grow horizontally and vertically, which is to add more features so that we can upsell our customers to higher plans,” Chopra said.
The seed round also saw the participation of existing investor Kae Capital and engineering leaders from Google, Uber, Twitter, Okta and Notion as angel investors.
“We have very good investor confidence, and they’re confident that we’ll be able to raise our next term soon. So, that’s why we did a round on future valuation,” he said.
Before the latest round, the startup raised $900,000 from Kae Capital in a pre-seed round.
Source : https://techcrunch.com/2023/02/08/hatica-funding-sequoia-india-surge/