Graphite's revenue grew 20x in 2024, serving over 500 companies, including Shopify and Snowflake. The startup has raised around $81 million in venture capital and plans to use the latest funding for product development and team expansion. To attract more users, Graphite has made its core code review offering free for teams of all sizes. The company aims to address reliability concerns associated with AI-powered coding tools and has carved out a niche in the competitive AI coding assistant space.
Key takeaways:
- Graphite raised $52 million in a Series B round led by Accel, with participation from several other investors, to further develop its AI-powered code review platform.
- Graphite's platform leverages AI models from Anthropic and OpenAI to provide feedback on code, suggest changes, and generate fixes for code failures.
- The startup is launching Diamond, a standalone AI tool designed to automatically catch coding bugs and errors.
- Graphite has made its core code review offering free for teams of all sizes, contributing to its significant revenue growth and expansion to over 500 companies.