US-based AI developer platform Replit has raised $250 million in fresh funding at a $3 billion valuation, in a round led by Prysm Capital, with participation from Amex Ventures, Google’s AI Futures Fund, and existing backers including Y Combinator, Andreessen Horowitz, and Coatue.
Replit was founded in 2016 by Amjad Masad, a Jordanian-born engineer, alongside Faris Masad and Haya Odeh, and has now raised around $478 million to date.
Annualised revenue has reportedly increased from $2.8 million to $150 million in under a year, powered by Replit’s browser-based environment that allows anyone to build, deploy, and collaborate on full-stack applications without local setup.
In tandem with the announcement, the company also unveiled Agent 3, its most autonomous agent yet, capable of testing apps in real browsers, auto-fixing bugs, and generating custom workflows.
“Our goal has always been to make programming accessible to everyone, and now we’re extending that to building software itself,” said Amjad Masad, CEO of Replit.
Replit’s massive raise comes as competition heats up among AI-first developer platforms. Earlier this year, Swedish startup Lovable raised $200 million at a $1.8 billion valuation for its “vibe coding” product, which lets users spin up apps and websites entirely via natural-language prompts. Reports now suggest Lovable’s valuation has climbed closer to $4 billion.
While Lovable leans on accessibility and creative expression, Replit differentiates itself with a deeper focus on collaboration and infrastructure.
With the new funding, Replit plans to expand globally, grow its engineering team, and continue embedding autonomous AI agents into its platform.
