Replit Secures $250M Funding Round at $3B Valuation, Achieves Rapid Revenue Growth and Partnerships with Google Cloud and Microsoft

Tech startup Replit has secured a $250 million funding round, placing the company’s valuation at an impressive $3 billion. Unlike many other rapidly expanding tech companies, Replit has not been consistently seeking venture capital funding every few months, but this could potentially change in the future. The last time the company raised funds was in 2023 when they secured approximately $100 million, which valued the company at $1.16 billion post-money. To date, Replit has amassed a total of around $478 million in funding, according to PitchBook estimates.

Founded in 2016 by programmers Amjad Masad, Faris Masad, and designer Haya Odeh, the company has reported significant growth recently. Annualized revenue surged from $2.8 million to a staggering $150 million within less than a year, according to statements made by the company. This figures a stark contrast to the $100 million ARR mentioned in June, as confirmed by Masad on Twitter at that time.

Leading the round was Prysm Capital, with participation from Amex Ventures and Google’s AI Futures Fund. Existing investors such as Y Combinator, David Sacks’ Craft, Andreessen Horowitz, Coatue, Paul Graham, and others also contributed to the funding round.

Google’s involvement in the funding round isn’t unexpected given Replit’s close partnership with Google Cloud. Many of the applications built using Replit are frequently hosted on Google’s platform. However, due to its growing popularity, Microsoft began offering Replit as an option on Azure in July as well.