Replit closes $250M in funding, valuing company at $3B

Replit, the agentic AI software creation platform, announced a $250M round, valuing the company at $3B, an almost 3x valuation increase since its last raise in 2023. The funding comes on the heels of Replit growing annualized revenue from $2.8M to $150M in less than a year, a more than 50x increase, driven by a global community of more than 40M users, the company said. Prysm Capital leads the round which includes Amex Ventures and Google’s (GOOGL) AI Futures Fund as strategic investors. YC, Craft, a16z, Coatue, Paul Graham, and others are deepening their investments. The company also noted that creators across various industries use Replit to build apps, including teams at Zillow (ZG), Duolingo (DUOL), and Coinbase (COIN), among others. In addition to the new investment, Replit announced that its products are now available to global customers through the Google Cloud Marketplace. The new funds will be used for scaling operations, accelerated product development, and global expansion as Replit builds out a new way to work in the era of AI.