Summary:
Replit Inc. raises $250 million in funding, boosting its valuation to $3 billion.
The round is led by Prysm Capital with participation from American Express Ventures, Google's AI Futures Fund, and existing investors like Andreessen Horowitz.
This highlights strong investor demand for AI-driven software development companies.
AI Coding Startup Replit Valued at $3 Billion With New Funding
AI coding startup Replit Inc. has raised $250 million in a funding round that nearly triples its valuation to $3 billion, the latest sign of investor demand for companies using artificial intelligence for software development.
Prysm Capital is leading the financing round, which includes investors such as American Express Ventures and Google's AI Futures Fund, the company said on Wednesday. Existing backers such as Andreessen Horowitz and Y Combinator participated in the round, too. Bloomberg Beta, the venture capital arm of Bloomberg LP, is also an investor in the startup.
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