Nx, an early startup focused on developing tools to simplify software development using a repository of single code, has secured $16 million in a Series A funding round. The investment was led by Nexus Venture and a16z to expand Nx Cloud, which is Nx’s completely managed product and aims to replace existing tools like Jenkins.
According to Jeff Cross, CEO and Co-founder of Nx, the COVID-19 pandemic has highlighted the advantages of using “monorepos,” where all development work is stored in a single repository. This approach eliminates the siloed development that companies often face and provides a more streamlined and efficient process. Nx’s approach is to offer decision-makers a prescriptive solution rather than overwhelming multiple options.
Nx was created by Victor Savkin (Co-founder), who previously worked at Google. They recognized the need for a solution that simplifies storing libraries and apps in a code repository and founded Nx in 2016.
The core product of Nx is Nx Cloud, which helps teams in product development ship features faster by enabling them to consolidate different parts of their items into one repository. Nx Cloud utilizes intelligent build processes to optimize performance, such as building what is necessary, caching outputs, and distributing work efficiently.
Although monorepos have advantages such as reusability and improved collaboration, they also have drawbacks, including increased storage requirements and limited access control per project. However, Nx has seen significant demand for its solution, boasting thousands of subscribers and over 15M+ installs of Nx projects/month.
The company plans to continue expanding its enterprise customer base and investing in its SaaS revenue. With a substantial funding runway of over two years, Nx is actively hiring to meet the growing demand for its services.