Graphite, an AI-driven code review platform backed by Anthropic, secures funding.

AI coding assistants are taking the tech world by storm, with a massive chunk of developers now using these tools according to GitHub's recent survey. Jared Friedman from Y Combinator even mentioned that a whopping quarter of the W25 startup batch at YC have AI generating 95% of their code.

Seeing this trend, venture capitalists are jumping at the chance to invest in startups creating AI-powered programming tools. Graphite, one of these startups, just announced a hefty $52 million Series B funding round. The round was led by Accel, with contributions from Anthropic’s Anthology Fund, Menlo Ventures, Shopify Ventures, Figma Ventures, Andreessen Horowitz, and The General Partnership.

Graphite was founded back in 2020 by Tomas Reimers, Greg Foster, and Merrill Lutsky. Reimers used to be a software developer at Facebook, Foster worked as an engineer at Airbnb and Google, and Lutsky started Posmetrics, a customer feedback company.

Originally, Graphite focused on mobile development tools, but soon shifted gears to code review. Nowadays, their platform uses AI, specifically models from Anthropic and OpenAI, to spot errors and potential issues in code.

Lutsky explained to TechCrunch that Graphite started as an internal tool to streamline their own code review process. After sharing it with a few ex-Meta engineers, word spread fast, and the demand for Graphite became too strong to ignore.

Besides reviewing code, Graphite can also suggest changes based on developer comments, summarize code, and come up with fixes for code problems. Next up, Graphite is launching Diamond, an AI tool that automatically catches coding bugs and errors, as a separate product.

Despite the competition, Graphite has found its own space by addressing concerns about the reliability of AI in coding. They let customers set up unique patterns and filters for sensitive info to keep their codebases secure.

Lutsky shared that Graphite's revenue skyrocketed 20x in 2024, and they're now serving tens of thousands of engineers at over 500 companies, including big names like Shopify, Snowflake, Figma, and Perplexity. This new funding gives them plenty of runway, a solid path to profitability, and the means to really push growth and AI development.

To sweeten the deal, Graphite made its core code review tool free for teams of any size. Before, only teams of 10 or fewer could use it for free.

With this latest round, Graphite has now raised about $81 million in total. The 30-person company plans to use the new funds to develop their products further and expand their team in NYC.