Augment Code has raised a total of $252 million across multiple funding rounds, with its largest being a $227 million Series B round in April 2024. The Palo Alto-based AI company develops software development tools that enhance coding through chat, code completions, and guided edits. With a focus on improving developer productivity, Augment Code leverages AI to streamline workflows and accelerate enterprise software development.
Keep reading to explore Augment Code’s funding journey, key investors, and what’s next for this innovative AI platform.
What Is Augment Code and What Does It Do?
Founded in 2022 by Guy Gur-Ari, Igor Ostrovsky, and Mike Speiser, Augment Code is headquartered in Palo Alto, California, United States. The company operates in AI-driven software development, providing tools for code completion, guided edits, and AI-powered chat for developers.
With 51–100 employees, Augment Code focuses on enhancing coding productivity, accelerating enterprise development, and delivering scalable solutions for software engineering teams.
How Much Funding Has Augment Code Raised?
- Series A
- Amount Raised: $25M
- Date: January 2024
- Lead Investors: Sutter Hill Ventures
- Motivation: To develop foundational technology and operations.
- Series B
- Amount Raised: $227M
- Date: April 2024
- Lead Investors: Sutter Hill Ventures, Index Ventures, Innovation Endeavors, Lightspeed Venture Partners, Meritech Capital
- Valuation at Round: $977M
- Motivation: To advance product development, expand the engineering team, and enhance AI capabilities.
Total Funding Raised: $252M
Current Valuation: $977M
Latest Funding Date: November 2024
Key Investors
- Evolution Equity Partners
- Details: Venture capital firm investing in growth-stage technology companies with market-leading potential.
- Investment Focus Areas: Cybersecurity, enterprise software, data analytics
- Notable Investments: Onapsis, SecurityScorecard, Quantexa
- Sutter Hill Ventures
- Details: Palo Alto-based VC firm supporting early-stage technology companies with strategic guidance.
- Investment Focus Areas: AI, enterprise software, healthcare technology
- Notable Investments: Snowflake, Pure Storage, Sumo Logic
- Index Ventures
- Details: Global venture capital firm partnering with entrepreneurs across growth stages.
- Investment Focus Areas: Fintech, e-commerce, enterprise software
- Notable Investments: Dropbox, Slack, Robinhood
- Innovation Endeavors
- Details: VC firm investing in visionary founders and transformational technologies.
- Investment Focus Areas: AI, robotics, digital health
- Notable Investments: SoFi, Uber, Plenty
- Lightspeed Venture Partners
- Details: Multi-stage venture capital firm accelerating disruptive innovations in enterprise and consumer sectors.
- Investment Focus Areas: Enterprise technology, consumer, cleantech
- Notable Investments: Snap, AppDynamics, Nutanix
- Meritech Capital Partners
- Details: Late-stage venture capital firm investing in high-growth technology companies.
- Investment Focus Areas: Enterprise software, technology
- Notable Investments: Not publicly disclosed
Where Is Augment Code’s Headquarters?
Augment Code is headquartered in Palo Alto, California, United States, providing access to top AI and software engineering talent, innovation hubs, and enterprise partners.
What’s Next for Augment Code?
With $227 million in Series B funding, Augment Code aims to enhance AI-driven coding tools, expand its engineering team, and scale go-to-market operations. The platform positions itself to make developers significantly more productive, with AI integration expected to be used by half of all enterprise software engineers by 2027.
Future fundraising is likely as the company scales, though challenges include maintaining a competitive advantage, ensuring AI accuracy, and protecting intellectual property.
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