Sourcegraph Valuation, Funding & Investors
Sourcegraph is valued at $2.6B as of July 2021.
Last Sourcegraph valuation
$2.6B
Series D · Jul 2021
Last Sourcegraph funding round
$150M
Series D · Jul 2021
Cumulative funding Sourcegraph raised
$248M
across 5 funding rounds
Key investors in Sourcegraph
Redpoint
Goldcrest Capital
Andreessen Horowitz
Sequoia Capital
Insight Partners
Felicis
About Sourcegraph
Sourcegraph is a code intelligence platform offering universal search across massive, multi-language codebases hosted on GitHub, GitLab, and other repositories. Developers rely on its features for precise code navigation, contextual insights in pull requests, batch editing campaigns, and AI-powered code understanding. The San Francisco-headquartered company, founded in 2013, integrates with IDEs such as VS Code, IntelliJ, and Eclipse. Sourcegraph supports enterprises like Uber, Twilio, Expedia, and CERN through self-hosted and cloud deployments. Its remote-first team delivers open-core tools that accelerate onboarding, reviews, and refactoring in distributed development environments.
Founded
2013
HQ
San Francisco, CAWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$2.6B (Jul 2021)
Sourcegraph Valuation
Sourcegraph is currently valued at $2.6B, based on its Series D in July 2021.
The $150M round was led by Andreessen Horowitz, with participation from Infinitum Partners, Geodesic Capital and Insight Partners.
Sourcegraph valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jul 2021 | Series D | $2.6B |
Sourcegraph Funding History
Sourcegraph has raised a total of $248M across 5 funding rounds.
Sourcegraph's first fundraising round was a $20M Series A in October 2017. The most recent completed round was a $150M Series D in July 2021.
Sourcegraph funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2021 | Series D | Andreessen Horowitz (lead); Infinitum Partners; Geodesic Capital; Insight Partners | $150M | $2.6B | Sourcegraph develops universal code search tools that enable developers to search, edit, and review code across repositories, addressing the challenges of large, distributed codebases in enterprises. The company, founded in 2013 and based in San Francisco, serves major customers including Uber, Plaid, Atlassian, Amazon, PayPal, and GE, with 800,000 developers using the product over the prior 12 months and over 54 billion lines of code indexed as of mid-2021. On July 13, 2021, Sourcegraph raised $125 million in a Series D funding round led by Andreessen Horowitz, with participation from Insight Partners, Geodesic Capital, and other existing investors, bringing total funding to nearly $225 million at the time. The round valued the company at $2.625 billion post-money, representing more than three times its December 2020 valuation. The capital was intended to expand the team from around 160 to 250 employees, enhance support for more programming languages, older codebases, and universal code search capabilities. The funding came amid growing demand for developer tools as companies increasingly rely on software development, positioning Sourcegraph against competitors like GitHub in the code intelligence space. |
| Dec 2020 | Series C | Sequoia Capital (lead) | $50M | - | Sourcegraph develops Universal Code Search, a tool that empowers developers to search and manage large codebases, often described as 'Google for developers.' Customers include major tech firms like Amazon, Google, Uber, PayPal, Atlassian, Lyft, and Yelp. The company operates fully remotely and focuses on addressing challenges of 'Big Code' in enterprise environments. Sourcegraph's Series B in March 2020 raised $23M led by Craft Ventures, Redpoint Ventures, and Goldcrest, followed by a $5M Series B extension in July 2020 led by Felicis Ventures. Sequoia Capital led the subsequent $50M Series C announced December 3, 2020, with participation from existing investors including Goldcrest, Craft, Redpoint, and Felicis, bringing total funding to $98M at that point. Since the March 2020 Series B, Sourcegraph reported annual recurring revenue growing 4x with 245% net ARR retention. The company had not lost an enterprise customer and retained all Series B proceeds ($26M) ahead of the Series C. Users searched 11 billion lines of code in the two months prior to the Series C announcement. Funds from the Series C were allocated to enhance universal code search features, launch a cloud offering, scale the team from 80 to 200+ employees by end of 2021, and expand globally amid rising demand driven by software-centric shifts post-COVID. Sequoia partner Andrew Reed joined the board, citing parallels to early Google and GitHub investments. Later developments included a $125M Series D in July 2021 at $2.625B valuation led by Andreessen Horowitz, reflecting 3x growth from December 2020 and totaling nearly $225M raised, focused on global scaling and enterprise integrations. |
| Jul 2020 | Series B | Felicis (lead) | $5M | - | Sourcegraph raised $5 million in a Series B extension in July 2020, led by Felicis Ventures. This funding was part of a broader capital raise that included $23 million in March 2020 and was intended to support aggressive hiring and product development. By July 2020, the company had grown to 50 employees from 40 at the start of the year and planned to reach 80 by year end. The company had recently secured major enterprise customers including Amazon, Tinder, Uber, Indeed, Airbnb, and Yelp. Sourcegraph's code search platform enables software engineers to search, analyze, and fix code across an entire codebase, with pricing structured as a flat monthly fee based on employee count. |
| Mar 2020 | Series B | Craft Ventures (lead); Redpoint; Goldcrest Capital | $23M | - | Sourcegraph, the leader in Universal Code Search, secured $23 million in a Series B funding round on March 3, 2020, led by Craft Ventures with participation from Redpoint Ventures, Goldcrest Capital, and others. The funding supports universal code search enabling developers to explore, navigate, and understand code across repositories, improving productivity with code navigation and contextual intelligence. Customers like Uber reported over 90% developer daily usage, alongside Lyft, Yelp, Convoy, and SoFi, highlighting strong bottom-up adoption. David Sacks of Craft Ventures noted Sourcegraph as mission-critical enterprise software, comparing its engagement to social networking sites due to majority usage at major enterprises. The platform integrates information from code hosts, dependencies, and runtime data for DevOps teams. Sourcegraph targets all companies, from startups to enterprises with complex needs, and operates as an all-remote company headquartered in San Francisco. Subsequent rounds included a $50 million Series C in December 2020 led by Sequoia Capital and a $125 million Series D in July 2021 at $2.6 billion valuation with ~260x revenue multiple, where Sourcegraph reached $10 million revenue in 2021. By 2023, it had over 1.8 million engineers using the platform and customers like Redfin, Plaid, Databricks, and Reddit. |
| Oct 2017 | Series A | Goldcrest Capital (lead); Redpoint (lead); Kevin Mahaffey | $20M | - | Sourcegraph, a universal code search platform for developers and enterprises, raised a $20 million Series A round in October 2017 led by Redpoint Ventures and Goldcrest Capital, with Kevin Mahaffey also participating as an investor. The funding was intended to develop the core code search platform and expand the engineering team. Scott Raney from Redpoint and Dan Friedland from Goldcrest joined the board. At the time, Sourcegraph had prototyped tools that gained traction among developers working on projects like self-driving cars and rockets, emphasizing faster code development and avoiding reinvention within companies. Sourcegraph continued raising funds in subsequent years: $23M Series B in March 2020, $5M extension in July 2020, $50M Series C in December 2020, and $125M Series D in 2021, totaling over $223M. |
Who has invested in Sourcegraph?
10 investors have backed Sourcegraph across its funding rounds, including Redpoint, Goldcrest Capital, Andreessen Horowitz, Sequoia Capital, Insight Partners and Felicis.
Lead investors include Andreessen Horowitz, Sequoia Capital, Felicis, Craft Ventures, Goldcrest Capital and 1 other investor.
Sourcegraph Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| San Francisco, CA | 2 | Lead | Oct 2017 | |
| Dallas, TX | 2 | Lead | Oct 2017 | |
| Miami, FL | 1 | Participant | Jul 2021 | |
| San Francisco, CA | 1 | Lead | Jul 2020 | |
| San Francisco, CA | 1 | Participant | Jul 2021 | |
![](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} Kevin Mahaffey | San Francisco, CA | 1 | Participant | Oct 2017 |
| San Francisco, CA | 1 | Lead | Jul 2021 | |
| San Francisco, CA | 1 | Lead | Dec 2020 | |
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Start Free TrialSourcegraph Competitors
Sourcegraph competitors include listed companies like C3.ai, Hanwang Technology Co, Horizon Quantum and Datadog, and private ones like Parallel and Magic.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| San Francisco, CA | Private | - | - | $2B | - | |
| United States | Publicly listed | $250M | ($484M) | $1.7B | 4.5x | |
| San Francisco, CA | Private | $147M | - | $1.5B | 10.2x | |
 China | Publicly listed | $282M | ($14M) | $605M | - | |
 Singapore | Publicly listed | $269K | ($5M) | $729M | - | |
| United States | Publicly listed | $3.4B | ($588K) | $85B | 19.4x |
Sourcegraph Public Comps
Sourcegraph is still privately-owned, but its public comps include SoundHound, Intsig Information, Ncino, Shenzhen Intellifusion, Haizhi, Infleqtion, Fermi, Justsystems, C3.ai and Wenge AI.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $169M | $19M | 14.6x | 11.3x | 132.5x | (35.5x) | |||
| $270M | $83M | 7.8x | 6.6x | 25.2x | 23.6x | |||
| $595M | $65M | 4.3x | 4.0x | 39.0x | 15.8x | |||
| $200M | ($3M) | 14.3x | 14.6x | (952.5x) | (1086.5x) | |||
| $93M | ($30M) | 21.5x | 16.3x | (67.1x) | (440.4x) | |||
| $29M | ($52M) | 92.3x | 64.5x | (50.9x) | (60.0x) | |||
| - | ($490M) | - | 281.8x | (7.5x) | (63.2x) | |||
| $331M | $156M | 3.1x | 3.2x | 6.7x | - | |||
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Common questions about Sourcegraph
| When was Sourcegraph founded? | Sourcegraph was founded in 2013. |
| Where is Sourcegraph headquartered? | Sourcegraph is headquartered in San Francisco, CA, United States. |
| Is Sourcegraph publicly listed? | No, Sourcegraph is a private, VC-backed company. |
| What is Sourcegraph's valuation? | Sourcegraph was last valued at $2.6B in its Series D in July 2021. |
| How much funding has Sourcegraph raised? | Sourcegraph has raised $248M across 5 funding rounds. |
| What was Sourcegraph's last funding round? | Sourcegraph's last funding round was a $150M Series D in July 2021, led by Andreessen Horowitz. |
| Who are Sourcegraph's investors? | Sourcegraph's investors include Redpoint, Goldcrest Capital, Infinitum Partners, Felicis, Geodesic Capital, Kevin Mahaffey, Andreessen Horowitz, Sequoia Capital, Insight Partners and Craft Ventures. |
| Which companies are comparable to Sourcegraph? | Companies comparable to Sourcegraph include Parallel, C3.ai, Magic, Hanwang Technology Co, Horizon Quantum and Datadog. |
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