Having raised approximately $1.6 million in funding, Codementor is poised to grow into an elite marketplace for freelance software developers. Peer Idea, the parent company of Codementor, is based in Mountain View. They've graduated from the Seattle-based Techstars organization, from which they were able to secure $1.2 million in early-stage funding. Founder Weiting Liu feels that the company originally started as a coding boot camp, but soon grew into an on-demand educational brand. He feels that the company will supplement the various free and paid software development resources currently crowding the market.

One of the company's top investors, Yvonne Chen, says that Codementor needs to focus on enhancing the algorithms its Web portal uses to match engineers with new developers. The company already has 150,000 developers looking to improve their programming skills by learning from 5,000 mentors. Each of these mentors is an expert in a particular programming language.