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Factory passes $1.5 billion valuation to build AI coding for enterprises
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The three-year-old startup raised $150 million led by Khosla Ventures.
Key facts
- On Wednesday, Factory, a startup developing AI agents for enterprise engineering teams, announced it had raised $150 million at a $1.5 billion valuation
- The startup was founded in 2023 after Grinberg, then a PhD student at UC Berkeley, cold-emailed Sequoia partner Shaun Maguire
- The round was led by Khosla Ventures, with participation from Sequoia Capital, Insight Partners, and Blackstone
- Keith Rabois, a managing director at Khosla Ventures, joined the startup’s board
Summary
More than three years after the emergence of generative AI, AI-assisted coding remains by far the most popular and lucrative use case for the technology. On Wednesday, Factory, a startup developing AI agents for enterprise engineering teams, announced it had raised $150 million at a $1.5 billion valuation. The round was led by Khosla Ventures, with participation from Sequoia Capital, Insight Partners, and Blackstone. Keith Rabois, a managing director at Khosla Ventures, joined the startup’s board.