Replit Reaches $3B Valuation with $150M Annualized Revenue
▼ Summary
– Replit raised $250 million in a funding round, valuing the company at $3 billion.
– The company’s last raise was in 2023, when it secured $100 million at a $1.16 billion valuation.
– Annualized revenue surged from $2.8 million to $150 million in less than a year.
– Prysm Capital led the round, with participation from Amex Ventures, Google’s AI Futures Fund, and previous investors.
– Replit partners closely with Google Cloud and became available on Microsoft Azure in July.
Reaching a $3 billion valuation marks a significant milestone for Replit, the cloud-based development platform that has seen explosive growth in both user adoption and revenue. The company recently secured a $250 million funding round, bringing its total raised capital to approximately $478 million. This latest investment represents a substantial increase from its previous valuation of $1.16 billion in 2023, underscoring strong investor confidence in its trajectory.
Founded in 2016 by Amjad Masad, Faris Masad, and Haya Odeh, Replit has experienced remarkable financial acceleration. In under a year, its annualized revenue surged from $2.8 million to an impressive $150 million, a figure that aligns with CEO Amjad Masad’s earlier tweet citing $100 million ARR in June. This rapid scaling highlights the platform’s growing appeal among developers seeking accessible, collaborative coding environments.
The funding round was led by Prysm Capital, with notable participation from Amex Ventures and Google’s AI Futures Fund. Existing backers, including Y Combinator, Craft Ventures, Andreessen Horowitz, and Coatue, also contributed, reinforcing continued support from early stakeholders. Google’s involvement comes as no surprise, given Replit’s deep integration with Google Cloud, where many of its hosted applications reside.
Interestingly, Replit’s expanding influence has attracted attention beyond its primary cloud partner. In a strategic move, Microsoft began offering Replit as an option on Azure in July, signaling the platform’s broadening market reach and competitive standing. This multi-cloud approach not only diversifies its infrastructure alliances but also strengthens its position as a versatile tool for modern software development.
(Source: TechCrunch)
