Replit has raised a new funding round of $250 million, which values the company at three billion dollars. This is a significant increase from its last raise in 2023, when it secured approximately $100 million at a post-money valuation of $1.16 billion. Unlike many other fast-growing companies, Replit has not been frequently seeking venture capital, though its strategy may evolve. According to PitchBook, the company has now raised a total of about $478 million.
Founded in 2016 by programmers Amjad Masad, Faris Masad, and designer Haya Odeh, Replit has reported exceptionally rapid recent growth. The company stated that its annualized revenue has skyrocketed from $2.8 million to $150 million in less than a year. This represents a sharp increase from the $100 million annual recurring revenue figure reported earlier.
The investment 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, where many applications built on Replit are hosted. However, Replit has grown so popular that Microsoft also began offering it as an option on its Azure cloud platform in July.