Augment Code Valuation, Funding & Investors

Augment Code is valued at $977M as of April 2024.

Last Augment Code valuation

$977M

Series B · Apr 2024

Last Augment Code funding round

$227M

Series B · Apr 2024

Cumulative funding Augment Code raised

$252M

across 2 funding rounds

Key investors in Augment Code

  • Sutter Hill Ventures
  • Lightspeed Venture Partners
  • Index Ventures
  • SV Angel
  • Innovation Endeavors
  • Meritech Capital Partners

Augment Code Overview

About Augment Code

Augment Code is a developer productivity tool integrating AI into IDEs and Slack for codebases. It delivers context-aware chat queries, autocompletions, and edit suggestions drawing from repositories, docs, and dependencies, supporting VS Code, JetBrains, and GitHub Copilot users to accelerate onboarding and debugging.


Founded

2022

HQ

United StatesSan Francisco, CA

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Valuation

$977M (Apr 2024)

Augment Code Valuation

Augment Code is currently valued at $977M, based on its Series B in April 2024.

The $227M round included Index Ventures, Sutter Hill Ventures, Innovation Endeavors, Lightspeed Venture Partners and Meritech Capital Partners.

Augment Code valuation by funding round

Augment Code valuation by funding round
DateStageValuation
Apr 2024Series B$977M

Augment Code Funding History

Augment Code has raised a total of $252M across 2 funding rounds.

Augment Code's first fundraising round was a $25M Series A in January 2024. The most recent completed round was a $227M Series B in April 2024.

Augment Code funding rounds

Augment Code funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Apr 2024Series BIndex Ventures; Sutter Hill Ventures; Innovation Endeavors; Lightspeed Venture Partners; Meritech Capital Partners$227M$977MAugment Inc. is an AI-powered coding assistance platform founded in 2022 that emerged from stealth in April 2024. The company develops software development tools featuring AI chat, code completions, and guided edits designed to enhance developer productivity and streamline enterprise software development workflows. Augment's technology provides contextual awareness of codebases and dependencies to remove toil from developers' workdays. On April 24, 2024, Augment announced its Series B funding round of $227 million at a $977 million post-money valuation, bringing total funding to $252 million including a $25 million Series A led by Sutter Hill Ventures in January 2024. The Series B was led by Sutter Hill Ventures, Index Ventures, Innovation Endeavors, Lightspeed Venture Partners, and Meritech Capital, with significant participation from former Google CEO Eric Schmidt. The capital was earmarked for accelerating product development, building out product and engineering teams, and expanding go-to-market functions ahead of the company's planned general availability launch later in 2024. Early adoption validation came from early access customers including payments startup Keeta, which reported a 40% increase in developer productivity. The company positioned itself as a competitor to GitHub's Copilot in the rapidly expanding AI coding assistant market, with Gartner forecasting that 50% of enterprise software developers would use AI-based coding tools by 2027.
Jan 2024Series ASutter Hill Ventures (lead); SV Angel$25M-Augment Code is a Palo Alto-based AI company founded in 2022 that develops software development tools leveraging AI for chat, code completions, guided edits, and codebase understanding to enhance developer productivity, streamline workflows, improve software quality, and facilitate team collaboration while protecting intellectual property. The company emerged from stealth in 2024 with a $25 million Series A round in January 2024 led by Sutter Hill Ventures, with participation from SV Angel, aimed at developing foundational technology, scaling the team, and product development. This was followed by a $227 million Series B in April 2024 at a $977 million post-money valuation, led by Sutter Hill Ventures alongside Index Ventures, Innovation Endeavors, Lightspeed Venture Partners, and Meritech Capital, bringing total funding to $252 million. The Series A funding supported early operations and technology foundation, while the Series B capital was designated to accelerate product development, expand engineering and go-to-market teams, enhance AI capabilities, and prepare for rapid growth and general availability. Augment positions itself as a rival to tools like GitHub Copilot, emphasizing expert understanding of codebases and dependencies to remove developer toil. The company is led by figures including Scott Dietzen and Dion Almaer, with a team noted for its track record in enterprise AI. The firm has attracted high-profile backers including former Google CEO Eric Schmidt, signaling strong investor confidence in its approach to AI-powered coding assistance amid a competitive market for generative AI developer tools.

Who has invested in Augment Code?

6 investors have backed Augment Code across its funding rounds, including Sutter Hill Ventures, Lightspeed Venture Partners, Index Ventures, SV Angel, Innovation Endeavors and Meritech Capital Partners.

Lead investors include Sutter Hill Ventures.


Augment Code Investors

Investors in Augment Code by funding rounds participated
InvestorHQRoundsRoleFirst check
Sutter Hill VenturesUnited StatesSan Francisco, CA2LeadJan 2024
Index VenturesUnited KingdomLondon1ParticipantApr 2024
SV AngelUnited StatesSan Francisco, CA1ParticipantJan 2024
Innovation EndeavorsUnited StatesSan Francisco, CA1ParticipantApr 2024

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Augment Code Competitors

Augment Code competitors include listed companies like Hanwang Technology Co, C3.ai, UiPath and Horizon Quantum, and private ones like Tessl and Pindrop.

Public and private companies comparable to Augment Code
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
TesslUnited KingdomLondonPrivate--$750M-
Hanwang Technology CoChinaChinaPublicly listed$282M($14M)$605M-
C3.aiUnited StatesUnited StatesPublicly listed$250M($484M)$1.7B4.5x
UiPathRomaniaRomaniaPublicly listed$1.6B$70M$7.2B3.5x
Horizon QuantumSingaporeSingaporePublicly listed$269K($5M)$729M-
PindropUnited StatesAtlanta, GAPrivate--$977M-

Augment Code Public Comps

Augment Code is still privately-owned, but its public comps include McMillan Shakespeare, Qt Group, Rackspace, Appier Group, Rezolve AI, Extreme Vision, iFLYHealth, Beijing CTJ Info Tech, ODDITY Tech and Cybozu.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
McMillan Shakespeare$336M$179M4.5x3.5x8.4x11.4x
Qt Group$249M$62M4.3x3.9x17.3x16.0x
Rackspace$2.7B$244M1.5x1.6x17.1x15.0x
Appier Group$281M$44M3.4x2.9x21.6x15.7x
Rezolve AI$47M($109M)23.3x4.0x(10.0x)(19.3x)
Extreme Vision$44M($6M)22.8x11.6x(163.7x)-
iFLYHealth$136M($7M)7.7x6.2x(150.8x)(144172.5x)
Beijing CTJ Info Tech$123M$13M5.3x4.9x51.3x34.6x

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Common questions about Augment Code

When was Augment Code founded?Augment Code was founded in 2022.
Where is Augment Code headquartered?Augment Code is headquartered in San Francisco, CA, United States.
Is Augment Code publicly listed?No, Augment Code is a private, VC-backed company.
What is Augment Code's valuation?Augment Code was last valued at $977M in its Series B in April 2024.
How much funding has Augment Code raised?Augment Code has raised $252M across 2 funding rounds.
What was Augment Code's last funding round?Augment Code's last funding round was a $227M Series B in April 2024.
Who are Augment Code's investors?Augment Code's investors include Sutter Hill Ventures, Index Ventures, SV Angel, Innovation Endeavors, Lightspeed Venture Partners and Meritech Capital Partners.
Which companies are comparable to Augment Code?Companies comparable to Augment Code include Tessl, Hanwang Technology Co, C3.ai, UiPath, Horizon Quantum and Pindrop.

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