AI coding startup Replit has announced a $400 million funding round, valuing the company at $9 billion. The investment was led by a consortium including Databricks Ventures, Okta Ventures, and notable investor Shaquille O’Neal.
Replit's platform allows users to build websites and mobile apps using natural language prompts, generating code and providing the necessary cloud infrastructure. The service also includes a cybersecurity scanner to check applications for vulnerabilities before deployment.
The company also unveiled Agent 4, an upgraded AI engine featuring enhanced graphic design capabilities. Developers can now generate and customize multiple interface variations, and even create complex visual assets from simple sketches.
Replit's platform has seen adoption across 85% of Fortune 500 companies, facilitating rapid software prototyping and internal application development for non-technical teams. The new funding will be used for international expansion, new feature development, and computing infrastructure.