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.