Antithesis Valuation, Funding & Investors
Antithesis is valued at $215M as of February 2024.
Last Antithesis valuation
$215M
Seed · Feb 2024
Last Antithesis funding round
$105M
Series A · Dec 2025
Cumulative funding Antithesis raised
$182M
across 3 funding rounds
Key investors in Antithesis
Amplify Partners
Spark Capital
Tamarack Global
First In Ventures
Teamworthy Ventures
Jane Street
About Antithesis
Antithesis is a San Francisco-headquartered cloud platform that automates reliability testing for software in simulated environments. It detects rare bugs in distributed systems, cloud infrastructure, databases, fintech applications, and blockchains by injecting faults like network delays and resource contention. The platform records full system states for deterministic replays, enabling developers to validate properties and trace root causes. Used by teams at companies handling high-stakes workloads, Antithesis supports continuous testing without production impact.
Founded
2018
HQ
United StatesWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$215M (Feb 2024)
Antithesis Valuation
Antithesis is currently valued at $215M, based on its seed round in February 2024.
The $47M round was led by Amplify Partners, First In Ventures and Tamarack Global, with participation from Michael Walrath and Howard Lerman.
Antithesis valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Feb 2024 | Seed | $215M |
Antithesis Funding History
Antithesis has raised a total of $182M across 3 funding rounds.
Antithesis' first fundraising round was a $47M seed round in February 2024. The most recent completed round was a $105M Series A in December 2025.
Antithesis funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Dec 2025 | Series A | Jane Street (lead); Karatage; Teamworthy Ventures; Spark Capital; First In Ventures; Hyperion Capital Partners; Sholto Douglas; Amplify Partners; Patrick Collison; Dwarkesh Patel; Tamarack Global | $105M | - | Antithesis is a software validation company founded in 2018 and headquartered in Northern Virginia, specializing in deterministic simulation testing technology to ensure reliability for complex, distributed systems in sectors like finance, infrastructure, and AI. The company emerged from five and a half years in stealth in 2024 and has grown rapidly, with over 150 employees. Its platform helps uncover issues in mission-critical software that traditional testing methods miss, as evidenced by its use at Jane Street, a key customer and lead investor. On December 3, 2025, Antithesis raised $105 million in a Series A round led by Jane Street, with participation from Amplify Partners, Spark Capital, Tamarack Global, First In Ventures, Teamworthy Ventures, Hyperion Capital Partners, and individuals including Patrick Collison, Dwarkesh Patel, and Sholto Douglas. This marks a rare early-stage investment from Jane Street, highlighting the platform's proven value in high-stakes environments. The round demonstrates strong investor confidence, though valuation remains undisclosed across all reports. Proceeds will fund expansion of engineering teams to enhance the deterministic simulation engine, advance platform intelligence and autonomy, build sales and marketing capabilities, scale go-to-market operations in North America, Europe, and Asia, and increase availability via cloud channels like AWS Marketplace. Antithesis has reportedly grown revenue more than 12x over the past two years prior to the round, serving customers in demanding industries, but specific ARR or revenue figures are not disclosed. The company positions itself to redefine software testing standards amid rising complexity in digital systems. Competitive context includes traditional testing limitations, with Antithesis aiming to become foundational infrastructure. Prior funding includes earlier rounds like a Series A in Feb 2024 and other tranches, but the Dec 2025 raise is the latest major milestone. Ongoing community engagement includes events like #BugBash and conference participation. |
| Feb 2025 | Undisclosed stage | Amplify Partners (lead); Spark Capital | $30M | - | Antithesis is a Vienna, VA-based software testing startup founded in 2018 by former Apple engineers Will Wilson and Dave Scherer, who previously built FoundationDB, acquired by Apple in 2015. The company provides an autonomous platform for deterministic massively parallel simulation testing that identifies bugs in complex distributed software systems, compressing years of real-world production testing into hours without impacting live environments. Customers include Palantir Technologies, Ethereum Foundation, MongoDB, and Jane Street. The platform aims to replace traditional testing for modern distributed and AI-accelerated software development. On February 13, 2025, Antithesis raised $30 million in a venture funding round led by repeat investor Amplify Partners, with participation from Spark Capital. This followed a $47 million seed round in February 2024 led by Amplify Partners, Tamarack Global, and First In Ventures, and preceded a $105 million Series A on December 3, 2025, led by Jane Street with Amplify Venture Partners, Spark Capital, and others. The $30M round supports workforce expansion from 70 to about 140 employees, primarily in marketing and product development, including a new San Francisco office, and further market expansion. |
| Feb 2024 | Seed | Amplify Partners (lead); First In Ventures (lead); Tamarack Global (lead); Michael Walrath; Howard Lerman | $47M | $215M | Antithesis is an enterprise software company founded in 2018 and headquartered in Northern Virginia that develops a deterministic simulation platform for testing complex distributed software systems. The company spent five and a half years in stealth before emerging publicly in early 2024, during which time it refined a rigorous testing methodology adapted from FoundationDB. The platform positions itself as a replacement for traditional example-based testing, compressing months of real-world behavior into hours and offering developers a way to uncover issues that other testing methods cannot find. On February 13, 2024, Antithesis closed a $47 million seed round led by Amplify Partners, Tamarack Global, and First In Ventures, with participation from angel investors including Howard Lerman (founder of Yext and Roam). The round valued the company at $215 million post-money. The funding was used to expand the sales and marketing teams, grow engineering and research efforts, and support product development. By the time of this seed round, Antithesis was already working with customers including Palantir, Ethereum, and MongoDB, alongside other unnamed large enterprises and startups. The company has since achieved significant traction, growing revenue by more than 12x over the two years following this round. |
Who has invested in Antithesis?
13 investors have backed Antithesis across its funding rounds, including Amplify Partners, Spark Capital, Tamarack Global, First In Ventures, Teamworthy Ventures and Jane Street.
Lead investors include Jane Street, Amplify Partners, First In Ventures and Tamarack Global.
Antithesis Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| San Francisco, CA | 3 | Lead | Feb 2024 | |
| San Francisco, CA | 2 | Participant | Feb 2025 | |
| New York City, NY | 2 | Lead | Feb 2024 | |
| New York City, NY | 2 | Lead | Feb 2024 | |
 London | 1 | Participant | Dec 2025 | |
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small} Michael Walrath | New York City, NY | 1 | Participant | Feb 2024 |
| United States | 1 | Participant | Dec 2025 | |
| Los Angeles, CA | 1 | Participant | Dec 2025 | |
| Sholto Douglas |  Germany | 1 | Participant | Dec 2025 |
| New York City, NY | 1 | Lead | Dec 2025 | |
| Patrick Collison | San Francisco, CA | 1 | Participant | Dec 2025 |
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Start Free TrialAntithesis Competitors
Antithesis competitors include listed companies like WALLIX and Cy4gate, and private ones like Akeyless Security, Fengtai Technology, ClearDATA Networks and Deep Instinct.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Ramat Gan | Private | - | - | $220M | - | |
 Beijing | Private | - | - | $221M | - | |
| Austin, TX | Private | - | - | $221M | - | |
| New York City, NY | Private | - | - | $223M | - | |
 France | Publicly listed | $47M | $5M | $181M | 3.3x | |
 Italy | Publicly listed | $109M | $19M | $271M | 2.1x |
Antithesis Public Comps
Antithesis is still privately-owned, but its public comps include WALLIX, Micro Systemation, Acer Cyber Security, Clavister Holding, Cy4gate, NCC Group, Elements, Mia Teknoloji, Gogolook and SSH Communications Security.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $47M | $5M | 3.8x | 3.3x | 34.7x | 43.2x | |||
| $47M | $8M | 3.6x | 3.1x | 20.3x | 14.8x | |||
| $76M | $45M | 1.7x | 1.5x | 2.9x | 4.9x | |||
| $23M | $3M | 7.5x | 5.4x | 57.0x | 22.6x | |||
| $109M | $19M | 2.6x | 2.1x | 14.9x | 10.4x | |||
| $321M | $11M | 1.1x | 1.0x | 32.5x | 8.4x | |||
| $25M | ($4M) | 5.9x | - | (37.2x) | - | |||
| $57M | $3M | 5.5x | - | 95.8x | - | |||
This data is available for Pro users. Sign up to see all Antithesis competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Antithesis
| When was Antithesis founded? | Antithesis was founded in 2018. |
| Where is Antithesis headquartered? | Antithesis is headquartered in United States. |
| Is Antithesis publicly listed? | No, Antithesis is a private, VC-backed company. |
| What is Antithesis' valuation? | Antithesis was last valued at $215M in its seed round in February 2024. |
| How much funding has Antithesis raised? | Antithesis has raised $182M across 3 funding rounds. |
| What was Antithesis' last funding round? | Antithesis' last funding round was a $105M Series A in December 2025, led by Jane Street. |
| Who are Antithesis' investors? | Antithesis' investors include Amplify Partners, Spark Capital, First In Ventures, Tamarack Global, Karatage, Michael Walrath, Teamworthy Ventures, Hyperion Capital Partners, Sholto Douglas, Jane Street and 3 others. |
| Which companies are comparable to Antithesis? | Companies comparable to Antithesis include Akeyless Security, Fengtai Technology, ClearDATA Networks, Deep Instinct, WALLIX and Cy4gate. |
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