"Replit announced Wednesday that it raised a $400 million Series D at a $9 billion valuation, led by previous investor Georgian Partners. Other participating investors include G Squared, Prysm Capital, Coatue, Andreessen Horowitz, Craft Ventures, Y Combinator, Accenture Ventures, Okta Ventures, and Databricks Ventures."
"This follows the $3 billion valuation the startup hit in September, when it raised a $250 million round. At that time, Replit said it was on track for $150 million in annualized revenue. Replit did not release updated, current ARR figures, but the company told Forbes it hopes to hit annual recurring revenue of $1 billion by the end of the year."
"While Replit's recent rise has been meteoric, Masad previously told TechCrunch that it took nine years of grinding - and a controversial decision to pivot from serving professional developers towards non-programs - to find its groove."
Replit, a coding platform, announced a $400 million Series D funding round led by Georgian Partners at a $9 billion valuation. The round includes participation from major investors such as G Squared, Prysm Capital, Coatue, Andreessen Horowitz, and others, alongside celebrity angel investors Shaquille O'Neal and Jared Leto. This funding follows a $250 million Series C round in September at a $3 billion valuation, when the company reported $150 million in annualized revenue. Replit aims to achieve $1 billion in annual recurring revenue by year-end. The company's rapid growth came after a strategic pivot from serving professional developers to targeting non-programmers, following nine years of development.
Read at TechCrunch
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