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- Augment Code
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
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
Website
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
| Date | Stage | Valuation |
|---|---|---|
| Apr 2024 | Series 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
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Apr 2024 | Series B | Index Ventures; Sutter Hill Ventures; Innovation Endeavors; Lightspeed Venture Partners; Meritech Capital Partners | $227M | $977M | Augment 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 2024 | Series A | Sutter 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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Jan 2024 | ||
| 1 | Participant | Apr 2024 | ||
| 1 | Participant | Jan 2024 | ||
| 1 | Participant | Apr 2024 | ||
This data is available for Pro users. Sign up to see all 6 Augment Code investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAugment 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.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $750M | - | ||
| Publicly listed | $282M | ($14M) | $605M | - | ||
| Publicly listed | $250M | ($484M) | $1.7B | 4.5x | ||
| Publicly listed | $1.6B | $70M | $7.2B | 3.5x | ||
| Publicly listed | $269K | ($5M) | $729M | - | ||
| Private | - | - | $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 FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $336M | $179M | 4.5x | 3.5x | 8.4x | 11.4x | |||
| $249M | $62M | 4.3x | 3.9x | 17.3x | 16.0x | |||
| $2.7B | $244M | 1.5x | 1.6x | 17.1x | 15.0x | |||
| $281M | $44M | 3.4x | 2.9x | 21.6x | 15.7x | |||
| $47M | ($109M) | 23.3x | 4.0x | (10.0x) | (19.3x) | |||
| $44M | ($6M) | 22.8x | 11.6x | (163.7x) | - | |||
| $136M | ($7M) | 7.7x | 6.2x | (150.8x) | (144172.5x) | |||
| $123M | $13M | 5.3x | 4.9x | 51.3x | 34.6x | |||
This data is available for Pro users. Sign up to see all Augment Code competitors and their valuation data. Start Free Trial | ||||||||
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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