Replit Raises $250M, Valued at $3B with AI Platform Growth

Replit, a prominent AI-powered software development platform, has raised $250 million in a Series C funding round led by Prysm Capital, bringing its valuation to $3 billion and tripling its worth within a year. The company has experienced rapid growth, with annualized revenue jumping from $2.8 million to $150 million, and now serves over 40 million users globally, including enterprise clients like Zillow and Duolingo. Replit's flagship product, Agent 3, is an advanced autonomous AI agent capable of testing, fixing code, and automating complex development tasks, marking a shift toward AI teammates that require minimal supervision. The funding also attracted strategic investments from American Express Ventures, Google’s AI Futures Fund, and continued support from Andreessen Horowitz, Y Combinator, and others. Replit’s technology integrates deeply with platforms like Google Cloud and Microsoft Azure, expanding its accessibility and influence in the AI-driven coding space. This surge in investment and innovation underscores the growing market confidence in AI tools designed to enhance or replace aspects of human software engineering.