Total amount raised
$125 Millions
Latest funding date
7/1/2021
Location
Sourcegraph has successfully raised significant funding through multiple rounds, attracting a diverse group of investors. The platform is designed to enhance software development by providing advanced code search and AI-driven tools.
Continue reading to delve into the details of Sourcegraph's funding journey and the key investors supporting this innovative platform.
What Is Sourcegraph?
Sourcegraph, founded in 2013 by Beyang Liu and Quinn Slack, is headquartered in San Francisco, California. The company specializes in providing universal code search and AI-driven tools to enhance software development.
With a team of 101-250 employees, Sourcegraph aims to improve developer productivity by offering advanced code navigation, exploration, and intelligence. Their tools help developers manage billions of lines of code efficiently.
Sourcegraph's mission is to accelerate software development, enabling developers to focus on solving problems rather than searching for code. Their innovative platform is trusted by major enterprises and tech companies worldwide.
How Much Funding Has Sourcegraph Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: January 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and validate the market need for universal code search tools.
- Series A
- Amount Raised: $20M
- Date: October 2017
- Lead Investors: Goldcrest Capital, Redpoint
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the team and enhance the platform's capabilities.
- Series A
- Amount Raised: Not publicly disclosed
- Date: January 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the product and expand market reach.
- Series B
- Amount Raised: $23M
- Date: March 2020
- Lead Investors: Craft Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and increase market penetration.
- Series B
- Amount Raised: $5M
- Date: July 2020
- Lead Investors: Felicis
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing product enhancements and customer acquisition efforts.
- Series C
- Amount Raised: $50M
- Date: December 2020
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and scale the platform to meet growing demand.
- Series D
- Amount Raised: $150M
- Date: July 2021
- Lead Investors: Andreessen Horowitz
- Valuation at Round: $2.625 billion
- Motivation Behind the Round: To expand the workforce and continue developing the universal code search tool.
Total Amount Raised: $248M. Current Valuation: $2.625 billion.
Key Investors
- Andreessen Horowitz
- Details: Andreessen Horowitz, also known as a16z, is a private venture capital firm founded in 2009 by Marc Andreessen and Ben Horowitz. The firm is based in Menlo Park, California, and invests in both early-stage startups and established growth companies.
- Investment Focus Areas: Technology, software, consumer, enterprise, bio/healthcare, crypto, fintech.
- Notable Investments: Facebook, Airbnb, Slack.
- Sequoia Capital
- Details: Sequoia Capital is a venture capital firm founded in 1972 by Don Valentine. It is headquartered in Menlo Park, California, and has offices in the United States, China, India, and Israel.
- Investment Focus Areas: Technology, healthcare, consumer, financial services.
- Notable Investments: Apple, Google, WhatsApp.
- Felicis
- Details: Felicis Ventures is a venture capital firm founded in 2006 by Aydin Senkut. The firm is based in Menlo Park, California, and invests in early-stage companies.
- Investment Focus Areas: Technology, healthcare, consumer.
- Notable Investments: Shopify, Fitbit, Credit Karma.
- Craft Ventures
- Details: Craft Ventures is a venture capital firm founded in 2017 by David Sacks and Bill Lee. The firm is based in San Francisco, California, and invests in early-stage and growth-stage companies.
- Investment Focus Areas: Technology, SaaS, consumer, enterprise.
- Notable Investments: Bird, CloudKitchens, SpaceX.
- Goldcrest Capital
- Details: Goldcrest Capital is a venture capital firm investing in technology companies. The firm is based in Dallas, Texas, and was founded by Adam Ross and Dan Friedland.
- Investment Focus Areas: Technology, consumer, enterprise.
- Notable Investments: SpaceX, Lyft, Palantir.
What's Next for Sourcegraph?
Sourcegraph's universal code search tool is poised to capitalize on the growing need for efficient code management and automation. With over 54 billion lines of code indexed and 800,000 developers using the product, the opportunity is vast. Major companies like Plaid, Uber, and Atlassian are already on board, highlighting the tool's significant market potential.
Future fundraising opportunities look promising, especially with the company considering an IPO to secure additional capital. However, Sourcegraph will need to navigate challenges such as competition from larger firms and the need for continuous innovation to maintain its edge in the rapidly evolving tech landscape.
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