(Bloomberg) — Artificial intelligence coding startup Replit Inc. is in talks with investors for a new funding round that would almost triple its valuation to $3 billion, according to people familiar with the matter, underscoring Silicon Valley investors’ appetite for companies using AI for software development.
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The new funding round would bring in about $200 million, one of the people said.
Replit did not respond to requests for comment. The financing talks are still ongoing and the details could change, said the people, who asked not to be identified discussing private information.
The startup is one of several companies gaining attention for AI-powered coding tools that can make developers more efficient — or let regular people build software without much specialized knowledge. Other services include Copilot from Microsoft Corp. and Cursor from Anysphere Inc., which is in talks to raise funding at a valuation of about $10 billion.
In September, Replit released an AI agent capable of not just writing code, but deploying software applications — becoming one of the first companies to debut such a tool. Many in tech believe that if AI agents become independent enough, they’ll eventually function almost as employees at tech companies, which a developer could supervise.
Replit has also embraced another AI trend — tools that let laymen, in addition to developers, build software — a phenomenon sometimes called vibecoding. In a blog post, the company described a future in which people could build computer programs by telling an AI service what they wanted, rather than laboring over lines of code. “Instead of writing code, you describe what you want your app to do, and AI tools handle the technical implementation,” the company wrote.
In a post on X, Replit Chief Executive Officer Amjad Masad said, “I no longer think you should learn to code.”
Replit has offices in Foster City, California, and Brooklyn, New York, and counts more than 30 million users, according to its website.
The company’s backers include Andreessen Horowitz, Khosla Ventures, Coatue Management and David Sacks’ Craft Ventures. Bloomberg Beta, the venture capital arm of Bloomberg LP, is also an investor.
–With assistance from Kate Clark.
(Adds investors in final paragraph.)
