Velocity raises $17M to spin up ‘production-like’ environments for software development

Speed, a Tel Aviv-based company offering a cloud-powered “production-like” environment for software developers, announced today that it has raised $ 17 million in Series A financing led by Insight Partners with participation from Hetz, Greycroft and individual investors. The startup says the proceeds will allow Velocity to create a US office suite and expand its team, particularly on the executive and R&D sides.

As they embrace digitization during the pandemic, companies are experiencing the problem of wanting to develop, test, and debug software in a production-like environment, but lack the resources to do so. These environments require time to configure, as well as developer effort to configure software libraries and dependencies while configuring access within a shared staging instance.

Velocity, which was founded in 2020 by Kobi Meirson and Tal Kain, aims to enable developers to accelerate product delivery with the ability to generate production-like sandboxes on demand. Kain and Meirson, both developers, met at Israel Defense Force Unit 8200, the directorate responsible for collecting signal intelligence and code-breaking.

Above: Velocity developer dashboard.

Image Credit: Velocity

“As developers, we experienced great pain. Instead of spending time creating and developing products that reach customers, we waste a quarter of our day managing and maintaining these non-production environments, ”Meirson told VentureBeat by email. “After talking to hundreds of developers, we saw that it is not only we who experience this pain. We met with several companies that started spending months of their DevOps time building their own local solutions, just so they could easily work and debug. “

Accelerating speed

By leveraging Velocity, developers can work locally with access to the dependencies they need in the cloud. (In software development, “dependencies” refer to independent libraries required by other pieces of software to perform specific tasks.) They can also program in multiple functions of an application in parallel or share the functions through unique URLs for each environment. relying on traditional integrated development environments and command line tools.

As Meirson points out, cloud-based development Features like Velocity are becoming more desirable as developers increasingly work remotely. A recent poll de Rollbar showed that 41% of developers want to return to the office when it is safe to do so, and more than three-quarters say that face-to-face collaboration with colleagues is what they miss most about working in the office. dynamic. Depending on the person, face-to-face collaboration can make navigating coding challenges like mistakes easier compared to video conferencing alternatives.

“We’ve moved into a world where people work from home, basically from anywhere, and if they don’t have access to the resources they need, they won’t be able to work,” Meirson said. “Velocity’s goal is to empower developers to move quickly with their work, without getting caught in bottlenecks that can prevent customers from accessing features. This means that our approach is to allow them to work anywhere, with access to all the knowledge and dependencies they need. [which] it is very important when we have become more isolated by working remotely in our homes [and] so regular collaboration has become difficult. “

Velocity automatically identifies and maps any changes in real time from source control, continuous integration and continuous deploymentand cloud accounts to configure the environment “dependency graph” launched by Velocity. Each environment runs on your existing application infrastructure and can be scheduled to decline when not in use or after a certain period of time has elapsed.

“Each environment can have a public URL that can be shared with non-engineers so they can navigate and see the current state of development,” explained Meirson. “With Velocity, any developer can create isolated, self-service environments with all the correct context and relevant data to develop, debug, and work with, without interrupting another developer. Speed [also] It allows you to get an environment with a future branch of one (or more) components, so that you can replicate what will be in production, without having to worry about deploying it and potentially disrupting production. “

Velocity, which recently came out of beta, currently has seven clients, including StreamElements and the Granulate workload optimization platform. When asked, Meirson declined to disclose the startup’s annual recurring revenue and projected revenue. But anticipating growth and with $ 22 million in total capital, Velocity, with 13 employees, plans to nearly double its workforce to 25 by the end of the first quarter of 2022.

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