Exclusive: AI code-testing startup Blacksmith hits $1 billion valuation as AI-written code surges
Blacksmith, a startup that runs the infrastructure companies use to test code before it ships, has been valued at $1 billion following a new $66 million funding round led by Sequoia Capital.
TL;DR
- Blacksmith, which provides infrastructure for code testing, is now valued at $1 billion.
- The company raised $66 million in a Series C funding round led by Sequoia Capital.
- Blacksmith's user base has doubled to over 10,000 companies since August, with validation checks increasing from 5 million to 90 million per week.
- Annual recurring revenue has grown 17x, with tens of millions in revenue.
- The surge in AI-generated code has created a bottleneck in code testing, driving demand for Blacksmith's services.
- The new funding will largely be used to purchase more computing power.
- Blacksmith owns its hardware, which gives it control over performance but also exposes it to compute shortages.