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AI software developer platform Replit on Wednesday said it has raised $250 million in a funding round that values the San Francisco-based company at $3 billion, as investors continue to back AI startups.
Valuations for code-generation firms or “code-gen” startups have climbed as companies look to use AI to assist – and in some cases replace – human software engineers.
Replit was valued at just over $1 billion in 2023 after it raised $97.4 million. The company said its annualized revenue rose to $150 million from $2.8 million in less than a year.
The…
