Today, Nx, a startup that creates tools to make it easier for software development teams to collaborate on a single code repository, closed a $16 million Series A investment with the support of Nexus Venture Partners and a16z.
According to co-founder and CEO Jeff Cross, the cash will be used to develop Nx Cloud, the company’s fully managed offering, to compete more effectively with other continuous integration technologies like Jenkins.
According to Cross, companies became more aware of the drawbacks and costs of siloed development and the advantages of utilizing evergreen “monorepos” in their place as a result of the epidemic. There are too many options for decision-makers because many businesses must address every part of the developer experience. Our strategy is more prescriptive and concentrated.
Before starting Nx, Cross and the other co-founder of Nx, Victor Savkin, were employed by Google as members of the Angular team, responsible for developing the Angular framework for creating web applications. They claim they identified a critical need for tools to make it easier for developers to keep related apps and libraries in one shared code repository after they left Google to launch an Angular consulting business in 2016.
The company’s primary offering is the Nx Cloud, a cloud-hosted version of Nx.
“The main benefit of Nx and Nx Cloud is that we help product development teams ship more features faster.” “We achieve this by making it simple to transfer all product components into a single repository…
Then, Nx & Nx Cloud includes multiple intelligence layers that enable builds (i.e., converting a warehouse into a functioning app) to happen quickly by just constructing what is necessary, caching task outputs whenever possible, and allocating the work effectively.
Monorepos offer benefits, including simplicity in reusing content and improved team cooperation. However, they have drawbacks, including the fact that they, by default, require more storage and don’t offer per-project access control.
Monorepos might not be suitable for everyone. But a customer base is hungry for it; Nx, a 37-person team, claims to have hundreds of subscribers and more than 15 million installs of the open-source Nx project monthly.
According to Cross, enterprise clients have more than doubled, while software-as-a-service income has increased fivefold. We continue to hire to stay up with the volume of enterprise agreements since we have more than two years of runway and significant pull from corporate customers.