Startups & Funding
Coding platform Replit triples valuation to $9 billion
Replit has raised $400 million in a late-stage funding round, pushing its valuation to $9 billion as the coding platform hopes to reach $1 billion in annual recurring revenue.
Coding platform Replit announced on Wednesday that it has secured $400 million in a Series D round, which represents a late-stage funding round. The new investment officially values the company at $9 billion. Georgian Partners, an investment firm that previously backed the company, led the funding round as the lead investor.
The new $9 billion valuation marks a significant jump from the $3 billion valuation Replit reached in September, when the company raised a $250 million funding round. At the time of that previous milestone, Replit was on track for $150 million in annualized revenue. While the company did not release updated, current annual recurring revenue (ARR) figures during this announcement, Replit hopes to reach $1 billion in ARR by the end of the year.
The late-stage round includes a broad syndicate of participating investors. The institutional backers participating in this round include:
- G Squared
- Prysm Capital
- Coatue
- Andreessen Horowitz
- Craft Ventures
- Y Combinator
- Accenture Ventures
- Okta Ventures
- Databricks Ventures
In addition to these institutional venture firms, Replit founder and CEO Amjad Masad announced the participation of individual backers. In a post published on the social media platform X, Masad stated that the round’s backers include angel investors Shaquille O’Neal and Jared Leto, who joined the syndicate alongside the institutional venture capital firms.
While Replit’s recent rise has been rapid, founder and CEO Amjad Masad previously told TechCrunch that the company’s journey involved nine years of grinding before finding its groove. A central part of this process was a controversial strategic decision to pivot the platform’s focus. Instead of continuing to serve professional developers, Replit shifted its product toward non-programmers.
Why it matters
The valuation jump from $3 billion to $9 billion in just six months underscores the aggressive capital appetite for AI-integrated development tools. However, the company must still scale its operations significantly to meet its target of $1 billion in annual recurring revenue, which it hopes to reach by the end of the year.