B2B, Cybersecurity
PDQ Acquires CODA Intelligence for Over €20 Million
Attack Surface Management for your cyber resilience
The Pursuit of a Million-Euro Exit: CODA Intelligence Acquired by PDQ for Over €20 Million
We’re excited to share that CODA Intelligence, a cybersecurity startup based in Bucharest, has been acquired by the American company PDQ for over €20 million. This acquisition marks a significant milestone for us at Early Game Ventures, as we were early investors in CODA Intelligence and have now seen our investment multiply threefold.
From Idea to Reality: The Journey of CODA Intelligence
The story of CODA Intelligence began in 2015 when the founders participated in the Innovation Labs pre-acceleration program under the name CODA Footprint. Since then, the startup has grown into a key player in the cybersecurity industry. However, the road to success was not without its challenges.
In 2020, CODA Intelligence made its first push into the U.S. market by hiring a U.S.-based CRO, but the results didn’t meet expectations. A second attempt in 2021 also fell short. Determined to succeed, the founders, Cristi and Mihnea, decided to take matters into their own hands. After numerous trips to the U.S. throughout 2022 and 2023, they began to see tangible results. By 2023, their persistence paid off with their first six-figure contract and a steady 30% month-over-month growth.
The Payoff: A Successful Exit
PDQ, a U.S.-based provider of software asset management solutions, recognized the value of CODA Intelligence’s technology and acquired the entire stake from the founders and investors, including us at Early Game Ventures. The deal, agreed upon in December 2023, valued the company at €22 million. While the exact figures remain undisclosed, it’s confirmed that our investment returned approximately three times the original amount, validating our belief in CODA’s vision and potential.
A Bright Future for Innovation
CODA Intelligence officially became a company in 2016, but its journey started long before that, and we’re proud to have supported them from the very beginning. This acquisition not only highlights the value of investing in innovative technology but also underscores the strength of the local startup ecosystem. We’re thrilled to have been part of CODA Intelligence’s journey and look forward to supporting the next generation of tech startups.
The Pursuit of a Million-Euro Exit: CODA Intelligence Acquired by PDQ for Over €20 Million
We’re excited to share that CODA Intelligence, a cybersecurity startup based in Bucharest, has been acquired by the American company PDQ for over €20 million. This acquisition marks a significant milestone for us at Early Game Ventures, as we were early investors in CODA Intelligence and have now seen our investment multiply threefold.
From Idea to Reality: The Journey of CODA Intelligence
The story of CODA Intelligence began in 2015 when the founders participated in the Innovation Labs pre-acceleration program under the name CODA Footprint. Since then, the startup has grown into a key player in the cybersecurity industry. However, the road to success was not without its challenges.
In 2020, CODA Intelligence made its first push into the U.S. market by hiring a U.S.-based CRO, but the results didn’t meet expectations. A second attempt in 2021 also fell short. Determined to succeed, the founders, Cristi and Mihnea, decided to take matters into their own hands. After numerous trips to the U.S. throughout 2022 and 2023, they began to see tangible results. By 2023, their persistence paid off with their first six-figure contract and a steady 30% month-over-month growth.
The Payoff: A Successful Exit
PDQ, a U.S.-based provider of software asset management solutions, recognized the value of CODA Intelligence’s technology and acquired the entire stake from the founders and investors, including us at Early Game Ventures. The deal, agreed upon in December 2023, valued the company at €22 million. While the exact figures remain undisclosed, it’s confirmed that our investment returned approximately three times the original amount, validating our belief in CODA’s vision and potential.
A Bright Future for Innovation
CODA Intelligence officially became a company in 2016, but its journey started long before that, and we’re proud to have supported them from the very beginning. This acquisition not only highlights the value of investing in innovative technology but also underscores the strength of the local startup ecosystem. We’re thrilled to have been part of CODA Intelligence’s journey and look forward to supporting the next generation of tech startups.
The Pursuit of a Million-Euro Exit: CODA Intelligence Acquired by PDQ for Over €20 Million
We’re excited to share that CODA Intelligence, a cybersecurity startup based in Bucharest, has been acquired by the American company PDQ for over €20 million. This acquisition marks a significant milestone for us at Early Game Ventures, as we were early investors in CODA Intelligence and have now seen our investment multiply threefold.
From Idea to Reality: The Journey of CODA Intelligence
The story of CODA Intelligence began in 2015 when the founders participated in the Innovation Labs pre-acceleration program under the name CODA Footprint. Since then, the startup has grown into a key player in the cybersecurity industry. However, the road to success was not without its challenges.
In 2020, CODA Intelligence made its first push into the U.S. market by hiring a U.S.-based CRO, but the results didn’t meet expectations. A second attempt in 2021 also fell short. Determined to succeed, the founders, Cristi and Mihnea, decided to take matters into their own hands. After numerous trips to the U.S. throughout 2022 and 2023, they began to see tangible results. By 2023, their persistence paid off with their first six-figure contract and a steady 30% month-over-month growth.
The Payoff: A Successful Exit
PDQ, a U.S.-based provider of software asset management solutions, recognized the value of CODA Intelligence’s technology and acquired the entire stake from the founders and investors, including us at Early Game Ventures. The deal, agreed upon in December 2023, valued the company at €22 million. While the exact figures remain undisclosed, it’s confirmed that our investment returned approximately three times the original amount, validating our belief in CODA’s vision and potential.
A Bright Future for Innovation
CODA Intelligence officially became a company in 2016, but its journey started long before that, and we’re proud to have supported them from the very beginning. This acquisition not only highlights the value of investing in innovative technology but also underscores the strength of the local startup ecosystem. We’re thrilled to have been part of CODA Intelligence’s journey and look forward to supporting the next generation of tech startups.
The Pursuit of a Million-Euro Exit: CODA Intelligence Acquired by PDQ for Over €20 Million
We’re excited to share that CODA Intelligence, a cybersecurity startup based in Bucharest, has been acquired by the American company PDQ for over €20 million. This acquisition marks a significant milestone for us at Early Game Ventures, as we were early investors in CODA Intelligence and have now seen our investment multiply threefold.
From Idea to Reality: The Journey of CODA Intelligence
The story of CODA Intelligence began in 2015 when the founders participated in the Innovation Labs pre-acceleration program under the name CODA Footprint. Since then, the startup has grown into a key player in the cybersecurity industry. However, the road to success was not without its challenges.
In 2020, CODA Intelligence made its first push into the U.S. market by hiring a U.S.-based CRO, but the results didn’t meet expectations. A second attempt in 2021 also fell short. Determined to succeed, the founders, Cristi and Mihnea, decided to take matters into their own hands. After numerous trips to the U.S. throughout 2022 and 2023, they began to see tangible results. By 2023, their persistence paid off with their first six-figure contract and a steady 30% month-over-month growth.
The Payoff: A Successful Exit
PDQ, a U.S.-based provider of software asset management solutions, recognized the value of CODA Intelligence’s technology and acquired the entire stake from the founders and investors, including us at Early Game Ventures. The deal, agreed upon in December 2023, valued the company at €22 million. While the exact figures remain undisclosed, it’s confirmed that our investment returned approximately three times the original amount, validating our belief in CODA’s vision and potential.
A Bright Future for Innovation
CODA Intelligence officially became a company in 2016, but its journey started long before that, and we’re proud to have supported them from the very beginning. This acquisition not only highlights the value of investing in innovative technology but also underscores the strength of the local startup ecosystem. We’re thrilled to have been part of CODA Intelligence’s journey and look forward to supporting the next generation of tech startups.
Other Stories
Early Game Ventures Fund II is a venture capital fund capitalized by the Recovery Equity Fund, managed by the European Investment Fund, and financed by thePNRR within the Next Generation EU.
Early Game Ventures Fund I is a venture capital fund funded mostly through the Competitiveness Operational Program 2014-2020, co-funded by the European Regional Development Fund.
Early Game Ventures Fund II is a venture capital fund capitalized by the Recovery Equity Fund, managed by the European Investment Fund, and financed by thePNRR within the Next Generation EU.
Early Game Ventures Fund I is a venture capital fund funded mostly through the Competitiveness Operational Program 2014-2020, co-funded by the European Regional Development Fund.
Early Game Ventures Fund II is a venture capital fund capitalized by the Recovery Equity Fund, managed by the European Investment Fund, and financed by thePNRR within the Next Generation EU.
Early Game Ventures Fund I is a venture capital fund funded mostly through the Competitiveness Operational Program 2014-2020, co-funded by the European Regional Development Fund.