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15.09.26 - 19:03
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Factory Raises $200 Million at a $5 Billion Valuation to Scale Self-Improving Software Development in the Enterprise (Business Wire)
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New funding comes amid rapidly growing demand from global enterprises to build their own software factories.SAN FRANCISCO--(BUSINESS WIRE)--Factory, the global leader in self-improving software development, today announced a $200 million financing from Blackstone, Khosla Ventures, Sequoia Capital, Insight Partners, Evantic Capital, Sound Ventures, NEA, Mantis VC, Clearlake, and angel investors including Nico Rosberg, Brad Gerstner, and Marc Benioff. The round values the company at $5 billion, over triple its previous valuation of $1.5 billion in April, and brings its total funding to over $400 million. The funding follows rapid enterprise adoption, with Factory now used by hundreds of thousands of developers across global enterprises including Nvidia, Blackstone, Royal Bank of Canada (RBC), Palo Alto Networks, and Adobe.
Factory was founded in 2023 by Matan Grinberg and Eno Reyes with a mission to bring autonomy to software engineering and create a world where software builds and improves itself.
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