AI coding startup Replit has raised $400 million in a new funding round that values the company at $9 billion, the company announced on March 11.
The round was led by Georgian with participation from G Squared, Prysm, 1789, Y Combinator, Coatue, Andreessen Horowitz, Craft Ventures and Qatar Investment Authority.
Strategic investors, including Accenture, Databricks, Okta and Tether, also participated. Individual backers include Shaquille O’Neal and Jared Leto.
CEO Amjad Masad said the funding will help the company expand its AI systems and scale internationally. “This funding will help us scale our ambition and expand beyond coding into AI systems that center human creativity,” he said in a post on X.
Masad added that the platform is now used by 85% of Fortune 500 companies.
He said Replit sees an opportunity to influence how AI tools shape work in the future. “We have an opportunity to help shape the future of work,” he said. “One where AI abstracts away the boring parts and humans shine as creative directors.”
Alongside the funding announcement, Replit introduced a new AI product called Agent 4 to change how developers interact with coding agents.
Instead of relying only on text prompts, the system introduces a digital canvas where users can adjust mockups, sketch product ideas and collaborate with other developers while the agent generates code.
“It’s about designing together with the agent,” Masad said. “When I walk around the office, when I see designers working with engineers, they’re on the whiteboard, they’re drawing.”
The new interface aims to replicate collaborative design sessions between engineers and designers, he added.
Replit said it is positioning its platform as a coding agent for non-technical users, including sales staff, marketers and small business owners.
Instead of requiring users to work in a traditional code editor, the company is aiming to make app and software development resemble graphic design workflows.
“With Agent 4, users can start by choosing from a series of buttons to tell the agent what they want to create,” the company said, adding that the options include spreadsheets, data visualisations, and 3D games.
Several companies, including Zillow, Databricks, PayPal and Adobe, now use Replit to build internal applications for their teams, the company said.
Replit added that it is on track to reach $1 billion in annual recurring revenue by the end of the year, though the company did not disclose current revenue figures.
The funding will also support international expansion, particularly in Asia, Europe and the Middle East, and help grow Replit’s go-to-market team.
The new round triples the company’s valuation from $3 billion six months ago. According to Forbes estimates, the increase makes Masad a billionaire for the first time with a net worth of about $2 billion.
Despite its recent growth, the startup faced internal challenges before launching its first coding agent in 2024. Masad said that Replit could not continue operating primarily as a coding editor, where developers manually wrote code, and needed to shift fully to AI-powered tools.
The transition came with layoffs. The company cut about 30 roles, a move that led to additional employee departures. By the end of the restructuring, roughly half of the staff remained.
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