ME News reports that on April 17 (UTC+8), according to monitoring by Beating, AI programming agent startup Factory announced the completion of a $1.5 billion Series C funding round led by Khosla Ventures, with participation from top-tier institutions including Sequoia Capital, Blackstone, Insight Partners, and NEA. This round values Factory at $1.5 billion. Factory’s flagship product is Droid, a fully autonomous software development agent. In the funding announcement, CEO Matan Grinberg revealed that Droid is now used daily by hundreds of thousands of developers at enterprise clients such as NVIDIA, Adobe, Palo Alto Networks, EY, and Adyen. Over the past six months, the company has achieved month-over-month revenue doubling, expanding its use cases beyond simple code completion to include COBOL migration, legacy technical debt cleanup, and end-to-end automation workflows from ticket to PR. Unlike many competitors aiming to “replace” developers, Factory maintains a “model-agnostic” and “interface-agnostic” technical approach, emphasizing its vision of “bringing autonomy to software engineering” to improve developers’ lives. Recent product advancements include the “Missions” system, which supports long-duration, multi-step, multi-agent collaboration, and Factory Desktop, a desktop application with full system access. Factory currently ranks first among leading software development agent benchmarks. Reflecting on the company’s three-year journey, Grinberg noted that Factory endured two years of “desert period,” maintaining technical discipline while competitors raised billions and made overblown promises. This funding will accelerate investment in research, product development, and global market expansion. (Source: BlockBeats)
AI Programming Agent Startup Factory Raises $150M in Series C, Valued at $1.5B
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Summary
AI and crypto news outlet MetaEra reports that Factory, an AI programming agent startup, has raised $150 million in Series C funding led by Khosla Ventures. Funding details show that Sequoia Capital, Blackstone, and others also participated, pushing the company’s valuation to $1.5 billion. Its product, Droid, is used daily by developers at NVIDIA, Adobe, and EY. Factory’s revenue has grown over 100% month-over-month for six consecutive months. The company is expanding into COBOL migration and full automation. CEO Matan Grinberg stated that the goal is to enhance productivity, not replace developers. New features include Missions and Factory Desktop.
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