Faros AI, founded by former members of Salesforce’s Einstein research division, has raised $20 million in a Series A funding round to support its platform for software engineers. The funding round was led by Lobby Capital, with participation from SignalFire, Salesforce Ventures, and Operator Collective. The investment will be used to strengthen Faros’ go-to-market strategy, research and development efforts, and customer success initiatives.
The company aims to address common workflow challenges by consolidating operational data into a single platform, providing visibility into key metrics and bottlenecks.
Faros’ platform offers a comprehensive view of a software engineering team’s work, goals, and velocity. Users can connect various data sources and utilize out-of-the-box modules and benchmarks, as well as customize and build their own analytics.
The platform enables engineers, engineering team managers, and executives to assess an organization’s health, identify technical debt, understand interdepartmental dependencies, and identify process bottlenecks. It also provides insights into time allocation between feature development and technical debt, measures the effectiveness of onboarding processes, and tracks seniority and tenure by team and location.
The lack of visibility in software engineering teams is a challenge faced by many organizations. Faros aims to address this issue by empowering companies to measure and optimize their engineering operations, allowing teams to achieve more with fewer resources. By providing a consolidated view of data and leveraging AI technology, Faros aims to enable engineers to extract valuable insights from the vast amounts of data generated by their organizations.
The company also anticipates that AI will play a transformative role in software engineering over the next five years, and its newly unveiled AI engine, Lighthouse AI, will further enhance operational intelligence.
With the additional funding, Faros plans to expand its go-to-market footprint and double its employee count in the next 12 months.
The company is well-positioned to capitalize on the growing demand for solutions that enhance visibility and optimize software engineering processes, as companies seek to maximize efficiency and innovation while reducing costs.
