diff --git a/.appveyor.yml b/.appveyor.yml
index 117b55843..08a8fc85d 100644
--- a/.appveyor.yml
+++ b/.appveyor.yml
@@ -2,32 +2,22 @@ environment:
   matrix:
     - JOB: "2.7.12 32-bit"
       PYTHON_HOME: "C:\\Python27"
-      TOXENV: "py27"
+      TOXENV: "py27-cov"
       TOXPYTHON: "C:\\Python27\\python.exe"
 
-    - JOB: "3.4.4 32-bit"
-      PYTHON_HOME: "C:\\Python34"
-      TOXENV: "py34"
-      TOXPYTHON: "C:\\Python34\\python.exe"
-
     - JOB: "3.5.2 32-bit"
       PYTHON_HOME: "C:\\Python35"
-      TOXENV: "py35"
+      TOXENV: "py35-cov"
       TOXPYTHON: "C:\\Python35\\python.exe"
 
     - JOB: "2.7.12 64-bit"
       PYTHON_HOME: "C:\\Python27-x64"
-      TOXENV: "py27"
+      TOXENV: "py27-cov"
       TOXPYTHON: "C:\\Python27-x64\\python.exe"
 
-    - JOB: "3.4.4 64-bit"
-      PYTHON_HOME: "C:\\Python34-x64"
-      TOXENV: "py34"
-      TOXPYTHON: "C:\\Python34-x64\\python.exe"
-
     - JOB: "3.5.2 64-bit"
       PYTHON_HOME: "C:\\Python35-x64"
-      TOXENV: "py35"
+      TOXENV: "py35-cov"
       TOXPYTHON: "C:\\Python35-x64\\python.exe"
 
 install:
@@ -50,10 +40,9 @@ install:
 
   # upgrade pip and setuptools to avoid out-of-date warnings
   - "python -m pip install --disable-pip-version-check --user --upgrade pip setuptools"
-  - "python -m pip --version"
 
   # install the dependencies to run the tests
-  - "python -m pip install -r dev-requirements.txt"
+  - "python -m pip install tox"
  
 
 build: false
@@ -61,6 +50,9 @@ build: false
 test_script:
   - "tox"
 
+after_test:
+  - "tox -e codecov"
+
 notifications:
   - provider: Email
     to:
diff --git a/.codecov.yml b/.codecov.yml
new file mode 100644
index 000000000..5e7474d3c
--- /dev/null
+++ b/.codecov.yml
@@ -0,0 +1,5 @@
+comment: false
+coverage:
+    status:
+        project: off
+        patch: off
diff --git a/.coveragerc b/.coveragerc
index 4457d6ecb..16b5756a2 100644
--- a/.coveragerc
+++ b/.coveragerc
@@ -3,9 +3,15 @@
 # See: http://coverage.readthedocs.org/en/coverage-4.0.3/branch.html#branch
 branch = True
 
-# list of directories to measure
+# list of directories or packages to measure
+source = fontTools
+
+# these are treated as equivalent when combining data
+[paths]
 source =
     Lib/fontTools
+    .tox/*/lib/python*/site-packages/fontTools
+    .tox/pypy*/site-packages/fontTools
 
 [report]
 # Regexes for lines to exclude from consideration
diff --git a/.gitignore b/.gitignore
index 9c5ad4293..da54a5f34 100644
--- a/.gitignore
+++ b/.gitignore
@@ -14,6 +14,7 @@ dist
 .tox/*
 .cache/
 .coverage
+.coverage.*
 htmlcov/
 
 # emacs backup files
diff --git a/.travis.yml b/.travis.yml
index 73891679e..4475bc9b0 100644
--- a/.travis.yml
+++ b/.travis.yml
@@ -5,26 +5,24 @@ language: python
 matrix:
   include:
     - python: 2.7
-      env: TOXENV=py27
+      env: TOXENV=py27-cov
     - python: 3.4
-      env: TOXENV=py34
+      env: TOXENV=py34-cov
     - python: 3.5
       env:
-        - TOXENV=py35
+        - TOXENV=py35-cov
         - BUILD_DIST=true
     - python: 3.6
-      env: TOXENV=py36
+      env: TOXENV=py36-cov
     - python: pypy
-      env: TOXENV=pypy
+      # disable coverage.py on pypy because of performance problems
+      env: TOXENV=pypy-nocov
     - language: generic
       os: osx
-      env: TOXENV=py27
+      env: TOXENV=py27-cov
     - language: generic
       os: osx
-      env: TOXENV=py35
-    # coveralls is not listed in tox's envlist, but should run in travis
-    - python: 3.5
-      env: TOXENV=coveralls
+      env: TOXENV=py36-cov
 
 install:
   - ./.travis/install.sh
@@ -32,6 +30,9 @@ install:
 script:
   - ./.travis/run.sh
 
+after_success:
+  - ./.travis/after_success.sh
+
 before_deploy:
   - ./.travis/before_deploy.sh
 
diff --git a/.travis/after_success.sh b/.travis/after_success.sh
new file mode 100755
index 000000000..d113fe7b6
--- /dev/null
+++ b/.travis/after_success.sh
@@ -0,0 +1,11 @@
+#!/bin/bash
+
+set -e
+set -x
+
+if [ "$TRAVIS_OS_NAME" == "osx" ]; then
+    source .venv/bin/activate
+fi
+
+# upload coverage data to Codecov.io
+[[ ${TOXENV} == *"-cov"* ]] && tox -e codecov
diff --git a/.travis/install.sh b/.travis/install.sh
index 44242b226..03cc0b3d8 100755
--- a/.travis/install.sh
+++ b/.travis/install.sh
@@ -3,34 +3,31 @@
 set -e
 set -x
 
-pip_options="--upgrade"
 ci_requirements="pip setuptools tox"
 
-if [[ "$(uname -s)" == 'Darwin' ]]; then
-    # install pyenv from the git repo (quicker than using brew)
-    git clone https://github.com/yyuu/pyenv.git ~/.pyenv
-    PYENV_ROOT="$HOME/.pyenv"
-    PATH="$PYENV_ROOT/bin:$PATH"
-    eval "$(pyenv init -)"
-
-    case "${TOXENV}" in
-        py27)
-            # install pip on the system python
-            curl -O https://bootstrap.pypa.io/get-pip.py
-            python get-pip.py --user
-            ;;
-        py35)
-            pyenv install 3.5.2
-            pyenv global 3.5.2
-            ;;
-    esac
-    pyenv rehash
-
-    # add --user option so we don't require sudo
-    pip_options="$pip_options --user"
-else
-    # on Linux, we're already in a virtualenv; no --user required
-    :
+if [ "$TRAVIS_OS_NAME" == "osx" ]; then
+    if [[ ${TOXENV} == *"py27"* ]]; then
+        # install pip on the system python
+        curl -O https://bootstrap.pypa.io/get-pip.py
+        python get-pip.py --user
+        # install virtualenv and create virtual environment
+        python -m pip install --user virtualenv
+        python -m virtualenv .venv/
+    elif [[ ${TOXENV} == *"py3"* ]]; then
+        # install/upgrade current python3 with homebrew
+        if brew list --versions python3 > /dev/null; then
+            brew upgrade python3
+        else
+            brew install python3
+        fi
+        # create virtual environment
+        python3 -m venv .venv/
+    else
+        echo "unsupported $TOXENV: "${TOXENV}
+        exit 1
+    fi
+    # activate virtual environment
+    source .venv/bin/activate
 fi
 
-python -m pip install $pip_options $ci_requirements
+python -m pip install $ci_requirements
diff --git a/.travis/run.sh b/.travis/run.sh
index 5e89986e4..6804f7dc2 100755
--- a/.travis/run.sh
+++ b/.travis/run.sh
@@ -3,12 +3,8 @@
 set -e
 set -x
 
-if [[ "$(uname -s)" == "Darwin" ]]; then
-    PYENV_ROOT="$HOME/.pyenv"
-    PATH="$PYENV_ROOT/bin:$PATH"
-    eval "$(pyenv init -)"
+if [ "$TRAVIS_OS_NAME" == "osx" ]; then
+    source .venv/bin/activate
 fi
 
-# tox script may not be in the $PATH if we installed as --user
-# so we run it as module
-python -m tox
+tox
diff --git a/README.md b/README.md
index 8d6f9f401..6077dc600 100644
--- a/README.md
+++ b/README.md
@@ -1,7 +1,7 @@
 [![Travis Build Status](https://travis-ci.org/fonttools/fonttools.svg)](https://travis-ci.org/fonttools/fonttools)
 [![Appveyor Build status](https://ci.appveyor.com/api/projects/status/0f7fmee9as744sl7/branch/master?svg=true)](https://ci.appveyor.com/project/fonttools/fonttools/branch/master)
 [![Health](https://landscape.io/github/behdad/fonttools/master/landscape.svg?style=flat)](https://landscape.io/github/behdad/fonttools/master)
-[![Coverage Status](https://coveralls.io/repos/github/fonttools/fonttools/badge.svg?branch=master)](https://coveralls.io/github/fonttools/fonttools?branch=master)
+[![Coverage Status](https://codecov.io/gh/fonttools/fonttools/branch/master/graph/badge.svg)](https://codecov.io/gh/fonttools/fonttools)
 [![PyPI](https://img.shields.io/pypi/v/fonttools.svg)](https://pypi.org/project/FontTools)
 
 ### What is this?
diff --git a/tox.ini b/tox.ini
index d9d015c10..0e8d76270 100644
--- a/tox.ini
+++ b/tox.ini
@@ -1,6 +1,5 @@
 [tox]
-envlist = py27, py35, py36
-skip_missing_interpreters = true
+envlist = py{27,35,36}-cov, htmlcov
 
 [testenv]
 basepython =
@@ -10,33 +9,38 @@ basepython =
     py35: {env:TOXPYTHON:python3.5}
     py36: {env:TOXPYTHON:python3.6}
 deps =
+    # we install coverage from source until 4.3 is released, because of this:
+    # https://bitbucket.org/ned/coveragepy/pull-requests/118/check-source-isdir-not-just-exists-there/diff
+    cov: hg+https://bitbucket.org/ned/coveragepy#egg=coverage
     pytest
     -rrequirements.txt
 install_command =
-    {envpython} -m pip install -v {opts} {packages}
+    pip install -v {opts} {packages}
 commands =
-    # run the test suite against the package installed inside tox env
-    py.test {posargs:--pyargs fontTools}
+    # run the test suite against the package installed inside tox env.
+    # We use parallel mode and then combine later so that coverage.py will take
+    # paths like .tox/py36/lib/python3.6/site-packages/fontTools and collapse
+    # them into Lib/fontTools.
+    cov: coverage run --parallel-mode -m pytest {posargs:--pyargs fontTools}
+    nocov: pytest {posargs:--pyargs fontTools}
 
-[testenv:coverage]
+[testenv:htmlcov]
 basepython = {env:TOXPYTHON:python3.5}
 deps =
-    {[testenv]deps}
-    pytest-cov
+    hg+https://bitbucket.org/ned/coveragepy#egg=coverage
 skip_install = true
-commands=
-    # measure test coverage and create html report
-    py.test --cov --cov-report html {posargs}
+commands =
+    coverage combine
+    coverage html
 
-[testenv:coveralls]
-passenv = TRAVIS TRAVIS_JOB_ID TRAVIS_BRANCH
-basepython=python3.5
+[testenv:codecov]
+passenv = *
+basepython = {env:TOXPYTHON:python}
 deps =
-    {[testenv:coverage]deps}
-    coveralls
+    hg+https://bitbucket.org/ned/coveragepy#egg=coverage
+    codecov
 skip_install = true
 ignore_outcome = true
-commands=
-    # measure test coverage and upload report to coveralls
-    py.test --cov
-    coveralls
+commands =
+    coverage combine
+    codecov --env TOXENV