People
Irvine-based Koder Inc. is hiring as it tries to establish an online marketplace for freelance coders.
The consulting firm, launched in 2016 by Elmer Morales, describes itself as an “Uber of software engineers.”
It has an app in beta on the Apple App Store that allows businesses and individuals to post projects at set prices, including for web development and debugging.
In one model, an algorithm invites qualified coders to compete for the work. The first to accept has an exclusivity window to finish the task and earn the contract, minus a 10% cut to Koder.
“We’re rewarding coders for completing the task and not necessarily for the time they spend on the task,” Morales said. “We’re inventing a new model.”
The traditional model of farming out freelance coding work by hourly billing is costly for large companies, and potentially a nonstarter for small and medium-size businesses, according to Morales, a former consultant at global giant Accenture.
“Companies can’t afford these services,” he said.
The company’s website lists clients such as BMW, Microsoft and—yes—Uber.
Under its other business model, several coders can tackle an assignment, and once completed, the value of the contract is divvied among top performers, as prize money is distributed in golf, volleyball and tennis.
The company has attracted more than 1,000 freelance coders and is “constantly adding them,” Morales said.
It employs about 20 software engineers at its 2,500-square-foot Irvine Spectrum office and about a dozen between San Francisco, Palo Alto and India.
The company is hiring engineers and plans to add a sales and marketing executive.
Last year it raised a $500,000 pre-seed round and is preparing a new funding effort. “Last year we hit seven figures net revenue,” Morales said. “We’ve been surviving off of that.”
— Chris Casacchia
Funding
• Irvine-based gaming app developer Evasyst Inc. is one of 10 finalists participating in the latest San Diego Venture Group and Tech Coast Angels Quick Pitch competition, on Oct. 24 at the Qualcomm campus in La Jolla, according to a press release by the Irvine-based Cove Fund.
Cove Fund provides seed-stage venture capital to technology and life sciences companies.
Evasyst said its technology, similar to some of the tools the U.S. military uses in drones and heads-up displays, or HUDs, gives gamers more immersive experiences.
Founded in 2015, it’s an EvoNexus company based at the Southern California incubator’s Irvine location.
Howard Mirowitz, Cove Fund II LLC co-manager, said the fund is leading Evasyst’s current round, which he projects will close at year-end. He said Cove Fund I was an investor in the company.
Evasyst has raised $1.8 million, according to Crunchbase.
— Sherry Hsieh
