Date: May 27, 2008 Source: Venture Beat (
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Coverity, a San Francisco startup that analyzes software code for flaws, has purchased Codefast, a “build management” company. The terms of the acquisition — Coverity’s first — were not disclosed.
Codefast, a San Jose company that was founded in 2004, focuses on accelerating the process of building software, so its technology should fit well with Coverity’s, which chief executive Seth Hallam touts for its comprehensive coverage of the entire development process.
Codefast and Coverity share a common backer, too — Foundation Capital. Codefast raised $6.5 million led by Foundation and Trinity Ventures in 2005, while Coverity received $22 million from Foundation and Benchmark Capital earlier this year.