Total amount raised
$252 Millions
Latest funding date
Location
Augment Code has successfully raised significant funding through multiple rounds, including a Series B round, with backing from prominent investors like Evolution Equity Partners and Meritech Capital Partners. The platform leverages AI to enhance software development, offering tools such as chat, code completions, and guided edits.
Keep reading to delve into the details of Augment Code's funding journey and the investors who believe in the potential of this innovative AI-powered platform.
What Is Augment Code?
Founded in 2022, Augment Code is based in Palo Alto, California. The company was established by Guy Gur-Ari, Igor Ostrovsky, and Mike Speiser. With a team of 51-100 employees, Augment Code offers an AI-powered platform designed to enhance software development through features like chat, code completions, and guided edits.
How Much Funding Has Augment Code Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: September 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to develop the company's foundational technology and operations.
- Series A
- Amount Raised: $25M
- Date: January 2024
- Lead Investors: Sutter Hill Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the company's foundational technology and operations.
- Series B
- Amount Raised: $227M
- Date: April 2024
- Lead Investors: Sutter Hill Ventures, Index Ventures, Innovation Endeavors, Lightspeed Venture Partners, Meritech Capital
- Valuation at Round: $977M
- Motivation Behind the Round: To advance product development, expand the engineering team, and enhance AI capabilities.
- Series B
- Amount Raised: Not publicly disclosed
- Date: November 2024
- Lead Investors: Evolution Equity Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale the company's go-to-market operations and accelerate the adoption of its solutions.
Total Amount Raised: $252M. Current Valuation: $977M.
Key Investors
- Evolution Equity Partners
- Details: Evolution Equity Partners is a venture capital firm that invests in growth-stage technology companies. They focus on companies that have the potential to become market leaders in their respective sectors.
- Investment Focus Areas: Cybersecurity, enterprise software, data analytics.
- Notable Investments: Onapsis, SecurityScorecard, Quantexa.
- Sutter Hill Ventures
- Details: Sutter Hill Ventures is a venture capital firm based in Palo Alto, California. They have a long history of investing in early-stage technology companies and providing strategic support to help them grow.
- Investment Focus Areas: AI, enterprise software, healthcare technology.
- Notable Investments: Snowflake, Pure Storage, Sumo Logic.
- Index Ventures
- Details: Index Ventures is a global venture capital firm that partners with entrepreneurs across various stages of growth. They have offices in London, San Francisco, and Geneva.
- Investment Focus Areas: Fintech, e-commerce, enterprise software.
- Notable Investments: Dropbox, Slack, Robinhood.
- Innovation Endeavors
- Details: Innovation Endeavors is a venture capital firm that invests in visionary founders, transformational technology, and emergent ecosystems. They are known for their focus on disruptive innovation.
- Investment Focus Areas: AI, robotics, digital health.
- Notable Investments: SoFi, Uber, Plenty.
- Lightspeed Venture Partners
- Details: Lightspeed Venture Partners is a multi-stage venture capital firm focused on accelerating disruptive innovations and trends in the enterprise and consumer sectors.
- Investment Focus Areas: Enterprise technology, consumer, cleantech.
- Notable Investments: Snap, AppDynamics, Nutanix.
What's Next for Augment Code?
Augment Code stands at the cusp of a transformative era in software development. With $227 million in Series B funding, the company is poised to enhance its AI-driven coding tools, expand its engineering team, and scale go-to-market operations. The integration of AI in software development is rapidly growing, and by 2027, it's predicted that half of all enterprise software engineers will use AI in their workflows. This positions Augment Code to significantly impact the industry, potentially making developers ten times more productive.
Future fundraising opportunities seem promising, given the strong investor confidence and the substantial market potential. However, challenges lie ahead. The company must ensure its AI tools accurately interpret developer needs and maintain a competitive edge in a crowded market. Protecting intellectual property and continuously innovating will be crucial as Augment Code navigates its path forward.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay's platform to access comprehensive fundraising data on companies like Augment Code and gather other critical business insights.
Sign up for free on Clay and start transforming your sales approach today.
