Replit has raised a new investment round of $250 million, valuing the company at $3 billion. Unlike many other fast-growing startups, Replit has not been frequently seeking venture capital, though it remains to be seen if that strategy will change. The company’s previous funding round was in 2023, when it raised approximately $100 million at a post-money valuation of $1.16 billion. According to PitchBook, Replit has now raised a total of around $478 million.
Founded in 2016 by programmers Amjad Masad and Faris Masad along with designer Haya Odeh, the company reports it has been growing rapidly. Annualized revenue has increased dramatically from $2.8 million to $150 million in less than a year. This represents significant growth from the $100 million annual recurring revenue reported in June.
The latest funding round was led by Prysm Capital, with participation from Amex Ventures and Google’s AI Futures Fund. A number of previous investors also contributed, including Y Combinator, David Sacks’ Craft Ventures, Andreessen Horowitz, Coatue, and Paul Graham.
Google’s involvement is a logical step given the existing partnership between Replit and Google Cloud, as many applications built on Replit are hosted on its infrastructure. However, Replit has recently become so popular that Microsoft also began offering it as an option on its Azure cloud platform in July.