The ETH Zurich software security spinout had raised at least $5.2m before it was purchased by Snyk yesterday for an undisclosed sum.
DeepCode, a Switzerland-based computer programming diagnostics tool developer founded out of ETH Zurich, was acquired by IT security software publisher Snyk for an undisclosed sum yesterday.
Founded in 2016, DeepCode has built a software development tool that leverages artificial intelligence (AI) to scan software code for flaws that risk eroding the application’s security and stability.
The product uses semantic analysis to learn about potential coding mistakes over time, and will now be embedded into Snyk’s offering, which is designed for consistent screening of software projects.
DeepCode’s approach emerged in 2013 when a prototype was formulated by Martin Vechev, a professor at the ETH Zurich’s Department of Computer Science, and Veselin Raychev, a former doctoral student in Vechev’s secure, reliable and intelligent systems lab.
Venture capital firm Earlybird later led a $4m seed round for the spinout in August 2019 backed by 3VC and Btov Partners, which had already contributed to a CHF1.1m round ($1.2m at today’s exchange rate) at an undisclosed date.