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Bocap boosts Eficode with EUR 6 million
Finnish DevOps company Eficode has received a six million-euro minority investment from private equity firm Bocap, which focuses on Finnish small and medium-sized strong-growth businesses.
Eficode will use the significant funding to speed up the internationalisation of its DevOps product and service businesses, and plans to open several offices outside Finland by the end of 2019.
A pioneer in more intelligent and automatic software development and with one of the largest DevOps teams in Europe, Eficode has seen its turnover grow more than 100 per cent in the past two years.
“With the new investment we wish to make an input into both speeding up internationalisation and into even stronger artificial intelligence-based software development,” says Risto Virkkala, CEO of Eficode. “Our customers utilise Eficode’s DevOps services in order to achieve a high level of automation in realising digital services.”
A pioneer in its own right, Bocap was the first Finnish private equity fund to focus on minority investments in Finland after it was founded in 2012.
“Entrepreneurs have received us very well due to our unique concept,” says Julianna Borsos, Bocap’s founder. “They are motivated by the fact that we are satisfied with a minority stake, whereupon we will be in the same boat to support success stories.”