It’s a Happy Valentine’s Day indeed for Pinpoint!
The new Austin startup, whose software measures the efficacy of engineering teams, hauled in a healthy $13.5 million Series A from a power squad of investors.
Menlo Park-based Bessemer Venture Partners led the round, with participation from Storm Ventures, Boldstart Ventures, Bloomberg Beta, Slack Fund, Social Capital and Cherubic Ventures.
“It’s been years since things like marketing automation and CRM transformed how go-to-marketing teams track, measure and improve departmental operations,” said CEO Jeff Haynie in a statement. “But for most engineering organizations, that’s still really hard. With Pinpoint, we’ve created a way to instrument the systems where the actual work is occurring, and then use data science to interpret current organizational performance, highlight improvement opportunities and predict outcomes.”
Haynie co-founded Pinpoint alongside Nolan Wright in 2016. The duo previously co-founded Appcelerator, a platform for developing native and web-based mobile apps and cloud services, which raised nearly $90 million in capital before Axway acquired it in 2016.
Pinpoint’s machine learning platform, which is available as of today, plugs into existing developer tools, like Jira, GitHub and BitBucket, to monitor, analyze and predict engineering outcomes. The users work as is, uninterrupted by prompts or updates from Pinpoint.
Headquartered in Austin, Pinpoint’s team of 25, and growing, is scattered across the U.S. in Austin, Raleigh, Silicon Valley, with an additional office in Guadalajara, Mexico.