Replit Raises $97.4 Million, Valuing Company at $1.16 Billion

On April 25, 2023, software developer platform Replit announced that it has raised $97.4 million at a $1.16 billion post-money valuation. Wilson Sonsini Goodrich & Rosati advised Replit on the transaction.

Replit is the fastest-growing software development platform globally.  Replit enables developers to quickly set up any development environment and release fully functional live apps in seconds, from anywhere on any device, with the power of AI.  The company plans to use the proceeds from the fundraising to support its core development experience, expand its cloud services for developers, and drive innovation in AI and LLMs through its Ghostwriter product.

The financing was led by Andreessen Horowitz's Growth Fund with participation from Khosla Ventures, Coatue, SV Angel, Y Combinator, Bloomberg Beta, Naval Ravikant, ARK Ventures, and Hamilton Helmer. As part of the transaction, previously-invested SAFEs converted, including those of more than 2,500 Replit community members in a Wefunder crowdfunding in 2022.

The Wilson Sonsini team included Yokum Taku, Lang Liu, Avi Emanuel, and Madisyn Klein.

For more information, please see the company’s press release or media coverage on Reuters.