Replit Raises $250 Mn at $3 Bn Valuation, Led by Prysm Capital

The AI coding company Replit has secured $250 million in a Series C funding round, bringing its valuation to approximately $3 billion, reflecting a significant increase. This development is the latest indicator of strong investor interest in firms that leverage AI for software creation.

The round was led by Prysm Capital, with participation from Amex Ventures and Google’s AI Futures Fund. Existing investors, including Y Combinator, Craft Ventures, Andreessen Horowitz, Coatue Management, and Paul Graham, also backed the financing.

Replit has emerged as one of the leaders in vibe coding, using AI tools to boost efficiency for experienced developers and help beginners learn programming. Competing companies include Anysphere’s Cursor, Sweden's Lovable, and Cognition, which is valued at $10 billion.

As part of the announcement, Replit said its platform is now available through the Google Cloud Marketplace, deepening ties with one of the largest players in cloud infrastructure. The listing is expected to simplify access for enterprise customers and expand adoption among companies already building on Google Cloud.

The funding follows significant sales growth for Replit, which increased its annual revenue from $2.8 million to $150 million in a year and now has 40 million users. The company has successfully sold to large firms like Zillow and Duolingo. 

Read: Replit Wants to Convince a Billion Future Developers That There’s No Need to Learn to Code

Masad noted that even non-engineering employees, such as designers, use Replit to create product test versions for early user feedback. Unlike other coding tools, Replit enables users to deploy their code within the app.“It’s the only place where you can really come in with only an idea, and you don’t have to leave our platform to be able to build,” Masad said, as reported by Bloomberg.