Blacksmith Revenue, Valuation, Funding & Investors
Blacksmith is valued at $550M as of August 2026, a 0.2x multiple on its last reported $3.5B revenue.
Last Blacksmith valuation
$550M
Series B · Aug 2026
Last Blacksmith funding round
$45M
Series B · Aug 2026
Blacksmith revenue
$3.5B
Series B · Aug 2026
Key investors in Blacksmith
Y Combinator
GV
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Spencer KimballPeak XV Partners
- David Cramer
- JJ Fliegelman
About Blacksmith
Blacksmith is a continuous integration platform that accelerates CI/CD pipelines by leveraging high-performance gaming CPUs, enabling developers to run builds up to twice as fast at half the cost compared to traditional cloud infrastructure.
Founded
2024
HQ
San Francisco, CAWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$3.5B (Aug 2026)
Valuation
$550M (Aug 2026)
Blacksmith Valuation
Blacksmith is currently valued at $550M, based on its Series B in August 2026.
The $45M round was led by Peak XV Partners, with participation from Y Combinator and GV.
Blacksmith valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Aug 2026 | Series B | $550M | 0.2x |
Blacksmith Revenue
Blacksmith's latest recorded revenue is $3.5B, as of its Series B in August 2026. At a $550M valuation, that implies a 0.2x revenue multiple.
Blacksmith revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Aug 2026 | $3.5B | $550M | 0.2x | Series B |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Blacksmith Funding History
Blacksmith has raised a total of $104M across 5 funding rounds.
Blacksmith's first fundraising round was a $500K pre-seed round in April 2024. The most recent completed round was a $45M Series B in August 2026.
Blacksmith funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Aug 2026 | Series B | Peak XV Partners (lead); Y Combinator; GV | $45M | $550M | Blacksmith raised a $10 million Series A led by Google Ventures, following its earlier $3.5 million seed round also backed by GV and Y Combinator. The round was closed quickly and was used to accelerate product development and scale the company’s CI/CD infrastructure business. The strategic rationale was to fund growth in a market where faster, cheaper software build and test infrastructure is becoming more important, especially for teams using GitHub Actions and AI-driven development workflows. Blacksmith’s investor base also included prior backers and notable angels, signaling strong support from the developer-tools ecosystem. Blacksmith is a Y Combinator-backed startup focused on high-performance continuous integration cloud services. The company has partnered with over 600 organizations and reached more than 700 customers with about $3.5 million in annual recurring revenue. Its product positioning centers on faster builds, lower compute costs, and observability for engineering teams. |
| May 2026 | Undisclosed stage | - | $45M | - | Blacksmith raised $10 million in a Series A led by Google Ventures, with participation from existing investors and angels; the round closed in 14 days. The company had previously raised $3.5 million in a seed round led by Google Ventures and Y Combinator in May 2025. The financing was aimed at accelerating Blacksmith’s CI cloud and GitHub Actions observability product, with planned expansion of engineering and go-to-market hiring and new offices in San Francisco and New York City. Blacksmith’s positioning in the round was tied to demand for faster, more cost-effective CI infrastructure and deeper test analytics for engineering teams. Blacksmith is a developer tools company focused on high-performance CI for GitHub Actions and broader CI/CD workflows. The company’s publicly disclosed scale in the available results centers on its funding history and product roadmap rather than operating metrics; no revenue or EBITDA figures were disclosed in the provided results. |
| Sep 2025 | Series A | GV (lead); David Cramer; Spencer Kimball | $10M | - | Blacksmith provides a high-performance continuous integration and delivery (CI/CD) service as a drop-in replacement for GitHub Actions, using bare-metal infrastructure to cut costs by 75% and double processing speeds. The San Francisco-based Y Combinator Winter 2024 alum serves over 700 customers, including Supabase, Clerk, and Chroma, powering CI for enterprises in the AI coding boom. Blacksmith raised $10 million in a Series A round on September 17, 2025, led by Google Ventures (GV) just four months after its $3.5 million seed round also backed by GV and Y Combinator. The rapid 14-day close included participation from angels like Spencer Kimball of Cockroach Labs and David Cramer of Sentry. The funding will expand engineering and go-to-market teams, open offices in San Francisco and New York City, and build observability features like test analytics. At the time of the Series A, Blacksmith achieved $3.5 million in annual recurring revenue (ARR), up from $1 million ARR in February 2025, with a lean team of eight employees. The company aims to double ARR by year-end, demonstrating strong traction with hundreds of customers acquired since the seed round. |
| May 2025 | Seed | GV (lead); Y Combinator (lead); Theo Browne; Peter Mattis; Eli Brown; Richard Aberman; Spencer Kimball; Machina Ventures; JJ Fliegelman | $4M | - | Blacksmith builds a high-performance CI cloud platform optimized for AI-era development workflows, serving as a drop-in replacement for GitHub Actions runners that is twice as fast at half the cost. The platform uses a purpose-built bare-metal hardware-software stack powered by gaming CPUs for high single-core performance, providing fast compute, observability, and security for CI workloads. Founded by veterans from Cockroach Labs and others, it addresses bottlenecks in legacy CI systems like GitHub and AWS amid rising code volume from AI agents. Blacksmith raised $3.5 million in seed funding on May 1, 2025, led by GV (Google Ventures) and Y Combinator, with participation from angels including Spencer Kimball (CEO of Cockroach Labs), Peter Mattis (CTO of Cockroach Labs), Rich Aberman (Co-founder of WePay), JJ Fliegelman (Co-founder of WayUp), Eli Brown (Founder of Guilded), and Theo Browne (Founder of T3 Chat). At the time of the round, the platform powered CI for over 600 organizations, including Ashby, Veed, Finch, Clerk, Pylon, Plex, and Mintlify. Funds support team growth and development of observability and security layers atop fast compute. Blacksmith competes in the developer tools market by cutting CI/CD costs and doubling speeds through bare-metal infrastructure, positioning for AI-driven demand. Customers include enterprise names like Supabase and Chroma in later traction. Four months post-seed, it raised a $10M Series A led by GV, reaching over 700 customers with a team of eight to eleven. |
| Apr 2024 | Pre-seed | Y Combinator (lead) | $500K | - | - |
Who has invested in Blacksmith?
11 investors have backed Blacksmith across its funding rounds, including Y Combinator, GV, Spencer Kimball, Peak XV Partners, David Cramer and JJ Fliegelman.
Lead investors include Peak XV Partners, GV and Y Combinator.
Blacksmith Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| San Francisco, CA | 3 | Lead | Apr 2024 | |
| San Francisco, CA | 3 | Lead | May 2025 | |
| Spencer Kimball | New York City, NY | 2 | Participant | May 2025 |
| David Cramer | San Francisco, CA | 1 | Participant | Sep 2025 |
| Theo Browne | San Francisco, CA | 1 | Participant | May 2025 |
| Peter Mattis | New York City, NY | 1 | Participant | May 2025 |
| Eli Brown | San Francisco, CA | 1 | Participant | May 2025 |
| Richard Aberman | San Francisco, CA | 1 | Participant | May 2025 |
| San Francisco, CA | 1 | Participant | May 2025 | |
This data is available for Pro users. Sign up to see all 11 Blacksmith investors. Start Free Trial | ||||
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Start Free TrialBlacksmith Competitors
Blacksmith competitors include listed companies like PagerDuty and ZeroStack, and private ones like tray.io, Sauce Labs, Octopus Deploy and ZEDEDA.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| San Francisco, CA | Private | $70M | - | $600M | 8.6x | |
| San Francisco, CA | Private | - | - | $613M | - | |
 Brisbane | Private | $80M | - | $625M | 7.8x | |
| San Jose, CA | Private | - | - | $400M | - | |
| United States | Publicly listed | $493M | $17M | $1.1B | 2.2x | |
| United States | Publicly listed | $36M | ($115M) | $99M | 3.2x |
Blacksmith Public Comps
Blacksmith is still privately-owned, but its public comps include ZeroStack, PagerDuty, Dameng Database, GitLab, Elastic, JFrog, MongoDB, Cloudflare and Snowflake.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $36M | ($115M) | 2.8x | 3.2x | (0.9x) | - | |||
| $493M | $17M | 2.2x | 2.2x | 64.6x | 7.7x | |||
| $195M | $84M | 15.3x | 12.5x | 35.5x | 27.6x | |||
| $955M | ($82M) | 7.5x | 6.7x | (87.0x) | 44.3x | |||
| $1.7B | $35M | 4.9x | 4.6x | 244.4x | 25.5x | |||
| $532M | ($67M) | 20.3x | 17.4x | (159.9x) | 88.4x | |||
| $2.5B | ($104M) | 11.9x | 10.4x | (282.5x) | 49.6x | |||
This data is available for Pro users. Sign up to see all Blacksmith competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Blacksmith
| When was Blacksmith founded? | Blacksmith was founded in 2024. |
| Where is Blacksmith headquartered? | Blacksmith is headquartered in San Francisco, CA, United States. |
| Is Blacksmith publicly listed? | No, Blacksmith is a private, VC-backed company. |
| What is Blacksmith's valuation? | Blacksmith was last valued at $550M in its Series B in August 2026. |
| How much funding has Blacksmith raised? | Blacksmith has raised $104M across 5 funding rounds. |
| What was Blacksmith's last funding round? | Blacksmith's last funding round was a $45M Series B in August 2026, led by Peak XV Partners. |
| Who are Blacksmith's investors? | Blacksmith's investors include Y Combinator, GV, Spencer Kimball, David Cramer, Theo Browne, Peter Mattis, Eli Brown, Richard Aberman, Machina Ventures, Peak XV Partners and 1 other. |
| What is Blacksmith's revenue? | Blacksmith's latest recorded revenue is $3.5B (August 2026). |
| What is Blacksmith's revenue multiple? | Blacksmith's latest valuation implies a 0.2x revenue multiple ($550M valuation on $3.5B of revenue). |
| Which companies are comparable to Blacksmith? | Companies comparable to Blacksmith include tray.io, Sauce Labs, Octopus Deploy, ZEDEDA, PagerDuty and ZeroStack. |
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