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April 27, 2023

Replit raises $97.4M in funding

Funding to go toward further innovation

San Francisco-based developer platform, Replit, has secured a significant milestone with the closure of a $97.4 million financing round at a post-money valuation of $1.16 billion. The round was led by Andreessen Horowitz's Growth Fund, with participation from renowned investors such as Khosla Ventures, Coatue, SV Angel, Y Combinator, Bloomberg Beta, Naval Ravikant, ARK Ventures (Cathie Woods), and Hamilton Helmer, the author of the groundbreaking book "7 Powers."

Replit, known for its generative AI for software development called Ghostwriter, plans to utilize the new funding to further enhance its core development experience, expand its cloud services for developers, and drive innovation in the field of artificial intelligence and language models through Ghostwriter.

“We are relentless in our mission to empower a billion software developers. AI has already brought that future closer, and we look forward to expanding our offerings for professional developers”

- says Replit founder and CEO, Amjad Masad

With this recent funding round, Replit is well-positioned to continue its trajectory of growth and innovation, propelling the company towards its goal of revolutionizing the software development landscape and providing cutting-edge solutions for developers worldwide.

Neil Hodgson Coyle
Neil Hodgson-Coyle
Editorial chief at TechNews180
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