Västerås, Sweden, 25th June 2020 * * * Percepio announces the successful closing of a 22 MSEK (2.3 MUSD) Series A funding round led by Fairpoint Capital AB. The investment is intended to scale up operations and accelerate the product development roadmap, with a focus on embedded software and Internet of Things (IoT).
Percepio is pioneering the area of visual trace diagnostics, which has a great potential for helping developers cope with runtime complexity. Percepio is uniquely positioned to provide visual trace diagnostics to a broad range of software organizations. The funding will allow the company to reach many new customers and help them build amazing products, on time and on budget.
“We are thrilled to get Fairpoint Capital as an investor and welcome Frederick Johansson to our board of directors. This brings not only a major capital injection, but also extensive international experience and the industrial network behind Fairpoint Capital,” comments Percepio CEO and founder Dr. Johan Kraft.
Software is everywhere today, also in operational technology that monitors and controls how physical products perform. Small, cheap and powerful embedded computers have enabled many innovative applications and paved the way for the IoT. Embedded software development engages hundreds of thousands of software engineers world-wide; it is a difficult job that requires spending a lot of time on testing and troubleshooting. Despite best efforts, software bugs are still common in shipped products and development projects are often delayed. This is partly because the programming languages and tools used today are conceptually the same as 20 years ago, while the software applications have become far more complex. Visual trace diagnostics allows developers to spot and analyze software anomalies during development and in deployed devices.
Fairpoint CEO and investment director Frederick Johansson comments:
“We are very excited to be partnering with the Percepio team, board and pre-existing shareholders in scaling up operations and further accelerating growth. Having followed the company for quite some time we are indeed impressed with what they have achieved. We firmly believe that Percepio’s visual trace diagnostics capabilities will prove a game-changer for embedded software development, and we are delighted to be embarking on this journey together.”
The full release is available here (PDF).
Photo of CEO Johan Kraft