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AI software development platform Replit has secured $250 million in fresh funding, boosting its valuation to $3 billion. The San Francisco-based startup, known for its AI-powered coding tools, continues to attract strong investor interest as demand for code-generation software surges.
The latest round was led by Prysm Capital, with strategic participation from Google’s AI Futures Fund and Amex Ventures. Existing investors Andreessen Horowitz (a16z) and Coatue also increased their stakes. Replit, previously valued at just over $1 billion in 2023 after raising $97.4 million, has seen explosive growth. Its annualized revenue jumped from $2.8 million to $150 million in under a year.
Replit plans to channel the funds into research, development, and expanding sales and marketing efforts. CEO Amjad Masad emphasized that Replit’s advantage lies in its accessibility, allowing not just developers but also teams across sales, HR, and operations to accelerate product development cycles.
The company also unveiled Agent 3, an autonomous AI tool capable of testing, fixing code, and creating custom agents and workflows. This innovation strengthens Replit’s position in the increasingly competitive code-gen market.
Rival startups are also attracting significant capital. Cognition recently raised more than $400 million at a $10.2 billion valuation, while Cursor secured $900 million in May at a $10 billion valuation. These platforms, like Replit, aim to streamline coding by suggesting, completing, and even autonomously writing software.
Major companies such as Duolingo and Zillow already use Replit to build applications, reflecting its growing enterprise adoption. As AI-powered coding platforms reshape software development, investors are betting heavily on tools that bring automation and accessibility to enterprises worldwide.
