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Foresight portfolio company Codeplay Software set for significant growth after second US supercomputer win

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  • Pioneering AI software company gaining international traction with leading tech firms
  • Highly skilled team set to grow by 20% to over 100 amid growth drive

Pioneering Artificial Intelligence (AI) and machine learning technology company Codeplay has won a second key contract with the US Government and is now looking to grow in the UK and internationally as demand increases for its cutting-edge software.

The Edinburgh-based business, already a world-leader in the AI technology used in devices such as self-driving vehicles and drones, has been selected by the US Department of Energy’s (DoE) National Labs to supply its software to a second supercomputer called Frontier, one of the highest performance computers in the world today.

Frontier will be used by researchers working in diverse areas such as medicine, alternative energy, environment, high-energy and nuclear physics, advanced computing, materials science and chemistry.

On the back of this success, and strong demand from some of the largest tech companies in the world, Codeplay is expecting its team of skilled software developers and computer scientists to increase from 80 to over 100 over the next year.

Additionally, having recently established a European presence in Ireland, the company is looking at further growth opportunities in Europe, as well as in Asia and North America.

Charles Macfarlane, Chief Business Officer at Codeplay, said: “Having won our first contact with the National Labs in February, a second prestigious contact to support one of the world’s most powerful supercomputers is an incredible endorsement of Codeplay and our technology.

“Much more than an important commercial win, this engagement from the Argonne and Oak Ridge National Laboratories in the US will further enhance our already strong reputation enabling supercomputers. Significantly it shows that our software is portable to almost any hardware – our first engagement with the National Labs was on Nvidia processors – while this is for use on AMD processors.

Enabling artificial intelligence and supercomputers are the most progressive technologies today and bring the toughest software challenges to overcome.”

Turning to the Codeplay’s growth plans, he added: “We believe our industry-leading software engineers are the best in the world and to maintain our leadership position we need to constantly invest in the best talent. High profile engagements and collaborations with organisations like the National Labs will only help us attract the highest calibre of people.

“We are entering a period of accelerated growth, be that it automotive, where manufacturers are constantly looking to push the boundaries of advanced driver assistance systems (ADAS), in supercomputing, smartphones or any of the many markets with artificial intelligence.”

Foresight Group, which supports innovative British companies at the cutting edge of technology, invested in Codeplay in 2018.

Foresight Director, Chris Wardle, said: “Codeplay is doing a brilliant job in flying the flag for the UK at the cutting edge of the global tech sector, and we are delighted to see the team gaining further traction with the National Labs in the US.

“We are proud to support Codeplay during this exciting phase of growth and job creation and look forward to its continued progress in a fast-moving and disruptive sector.”

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For more information contact:

Chris Barry, Influential: Barry@thisisinfluential.com / +44 (0)7733 103 693

 

Notes to Editors

About Foresight Group LLP (“Foresight”):

Foresight is an award-winning, listed infrastructure and private equity investment manager which has been managing investment funds on behalf of institutions and retail clients for more than 35 years.

Foresight has over £7 billion of Assets Under Management across a number of funds, including Listed Vehicles, Limited Partnerships, Enterprise Investment Schemes (EISs), Venture Capital Trusts (VCTs), Inheritance Tax Solutions using Business Relief (BR) and Open-Ended Investment Companies (OEICs).

Foresight’s Private Equity Team, comprising over 30 investment professionals, manages c.£700 million in a portfolio of more than 100 companies and pursues four discrete but complementary investment styles: Venture, Impact, Growth and Replacement Capital through its growing regional office network.

Foresight was a commended finalist in the Best Venture Capital Trust Provider category at the 2020 Investment Life & Pensions Moneyfacts Awards. Foresight was named ‘Fund Manager of the Year’ at the PLC Awards last year, ‘Generalist VCT of the Year’ at the Investment Week Tax Efficiency Awards 2018/19 and was a finalist in the 2018 Unquote British Private Equity Awards as Venture and Growth Capital House of the Year.

Foresight’s largest office is in London with regional UK offices in Edinburgh, Manchester, Nottingham, Milton Keynes, Leicester, Cambridge and Guernsey and international offices in Sydney, Rome, Madrid, and Luxembourg.

www.foresightgroup.eu

About Codeplay Software:

Codeplay Software is a world pioneer in enabling acceleration technologies used in AI, HPC and automotive. Codeplay was established in 2002 in Edinburgh, Scotland and developed some of the first tools enabling complex software to be accelerated using graphics processors. Today, most AI software is developed using graphics processors designed for video games, and more recently specialized AI and computer vision accelerators. Codeplay continues to work with global technology leaders to make the latest complex AI systems programmable using open standards based programming languages and allows application developers to quickly bring software to the market.  Codeplay is also deeply involved with the definition of open standards, especially OpenCL™, SPIR™, SYCL™, and Vulkan™ through The Khronos Group, and MISRA C++ for automotive.

SYCL, SPIR, Vulkan are trademarks of the Khronos Group Inc. OpenCL and the OpenCL logo are trademarks of Apple Inc. used by permission by Khronos.  Codeplay is a registered trademark of Codeplay Software Ltd.