Undo

Cambridge-based developer tools scale-up Undo has successfully closed a $37 million (£27.6 million) growth funding round led by Austin-based private equity firm Elsewhere Partners.

Summary of transaction details:

• Value: $37 million (£27.6 million) Growth Funding.
• Sector: DeepTech & AI / Developer Tools / Software Observability.
• Advisor / Corporate Board Updates: Rod Favaron (Operating Partner at Elsewhere Partners) has been appointed Executive Chair of Undo’s Board of Directors.
• Key Entities: Target: Undo Ltd; Lead Investor: Elsewhere Partners; Key Founders: Greg Law (CEO & Co-Founder), Julian Smith.
• Location: Cambridge, UK (HQ).

Note: Founded in 2005 by Greg Law and Julian Smith out of a garden shed in Cambridge, Undo provides deterministic record-and-replay time-travel debugging technology across development, test, and production environments. While traditional logging tools only expose what code says, Undo's flagship platform captures complete execution histories into self-contained recordings that show exactly what a program actually did when running. While previously scaled to help human developers at Nvidia, AWS, and Bloomberg complete root-cause analysis 100x faster, the technology has reached a massive inflection point with the rise of autonomous AI coding assistants. Because AI agents are fueling an explosion of complex, poorly understood code, they routinely struggle to diagnose runtime errors without dynamic context. According to internal benchmarks, leading LLMs given only source code identify root causes just 38% of the time—but when supplemented with Undo’s runtime context, accuracy spikes to 92% alongside a massive drop in token consumption. This $37m capital layer will fund targeted US and European go-to-market scaling, expand customer support units, and deeply embed Undo as standard infrastructure within conversational enterprise AI workflows.