Codery, a leading outsourcing and IT talent management company based in Sofia, Bulgaria, has secured a €2.6M investment round from Silverline Capital. The fresh capital will help it fuel growth through organic development and strategic acquisitions, the Recursive reports.
With its platform that links western corporations to distant developers and enables them to hire them legally without creating a new company or paying in advance, Codery assists businesses in finding and hiring from over 70,000 remote software engineers.
- Codery, founded in 2019 by Philip Balkanski, aims to serve as an Employer of Record (EOR), handling all administrative and legal employment tasks, which allows businesses to operate without establishing regional offices.
- The company employs advanced AI matching algorithms to continuously source and evaluate remote developers, creating a curated talent pool that meets users' specific needs.
- The team of Codery searches all around Eastern Europe for regional developers who are actively looking for work. Through a rigorous screening procedure and pairing people with available opportunities, the company maximizes process efficiency.
Silverline Capital's backing will propel Codery's expansion into new markets. A portion of the funding will go into team mergers and acquisitions as well as internal system and structural improvements within the business.
