24 April 2008

Skype and Rate.ee co-founders invest in programmer performance metrics inventors

Tallinn, April 24, 2008 – SourceKibitzer, a start-up that has invented unique metrics and performance indicators for software teams, will receive an investment of 200,000 EUR from Ambient Sound Investments (ASI) and Serenda Estonia.

SourceKibitzer has developed an advanced analytics solution, named EyeQ that provides transparency to anyone who is dealing with software development and allows automated day-to-day overview of development team performance. The service is targeted primarily at companies with software development teams that consist of at least 10-20 developers. By the end of 2008, the projected capacity of SourceKibitzer's infrastructure will support simultaneous monitoring of 10,000 developers.

Unlike most other products on the market, EyeQ solution allows managers to collect metrics and key performance indicators of their programming team without any human effort. The metrics and indicators are invented by SourceKibitzer and are unique to EyeQ.

"The benefits for outsourcers are obvious - more transparency and better know-how management. Software developers save time on reporting and get more time for important things, like programming," said Mark Kofman, the founder and CEO of SourceKibitzer.

"The possibility to have the founders of Skype and Rate.ee on board as a result of this deal is certainly a big plus, since they have valuable experience in starting successful software companies," added Kofman.

SourceKibitzer's programmer performance monitoring service EyeQ has been chosen by The Computing Technology Industry Association (CompTIA) as a finalist for 2008 SoftwareCEO Innovation Award in the "Most Innovative Software for the Software Industry" category.

According to Tauno Tats, the CEO of ASI, an investment group established by the co-founding engineers of Skype, SourceKibitzer is a prime example of an inventive start-up working to establish a new product category. "We hope that our investment helps the emergence of a respected tool for programmer expertise benchmarking that will one day become mainstream in is niche".

In the nearer future the company plans to attract customers from countries around the Baltic Sea but the goal is to make SourceKibitzer's solution available also to large software companies in US, rest of Europe, India, Russia and China. The next big target is to measure 50,000 - 100,000 software developers around the world.

Andrei Korobeinik, founder of Rate.ee and owner of Serenda Estonia said that SourceKibitzer's technology and solution is simple and useful to software development companies and to those who outsource software development. "I wouldn't be surprised to see the company as a market leader already after a year".

SourceKibitzer

SourceKibitzer is an inventor of unique metrics and performance indicators for software teams. Its services enable businesses to form and effectively manage credible development teams even if individual members are spread around the world. SourceKibitzer's EyeQ service is fully automated and collects metrics without any human effort. The company was established in 2006. For more information, please visit: www.sourcekibitzer.com

Ambient Sound Investments

ASI is an investment company of four Estonian co-founders of Skype, using its assets to fund budding international technology enterprises. ASI is mostly focusing on Eastern Europe and Russia, searching companies that are developing novel technologies or based thereon to be added to its investment portfolio. For additional information, please see: www.asi.ee

Serenda Estonia

Serenda Estonia is an investment company created by Estonian founder of popular social networking portal Rate.ee.

For additional information contact:

Mark Kofman
CEO, SourceKibitzer
Skype: kofman
mark.kofman@sourcekibitzer.com


Tauno Tats
Managing Director, Ambient Sound Investments
Skype: taunotats
tauno@asi.ee


Andrei Korobeinik
Owner, Serenda Estonia
Skype: blue.ee
ak05@blue.ee