Code Metal raises $125M Series B at $1.3B

The round was announced around February 19 to 20, 2026, and most outlets put the valuation at $1.25B rather than $1.3B. Besides lead investor Salesforce Ventures, backers include Accel, B Capital, Smith Point Capital, J2 Ventures, Shield Capital, Overmatch and RTX. Ryan Aytay, a former Tableau CEO, joined as President and COO. The money is earmarked for engineering hires, product development, commercial and government partnerships, and go-to-market expansion. Boston-based Code Metal, founded in 2023, translates code from languages such as Python, Julia and MATLAB into targets such as Rust, VHDL and CUDA, then verifies the output behaves the same. It told WIRED it is profitable with positive cash flow. Named customers include the US Air Force, L3Harris, RTX and Toshiba. One tracker lists revenue of about $10M as of a November 2025 round, though that figure is third-party and unconfirmed. For founders, the round shows where AI coding money is going beyond code generation: proof that output is correct, sold into defense and other regulated sectors where errors trigger expensive revalidation. Strategic money from a customer like RTX also shows buyers will fund vendors that remove a deployment bottleneck. Verification may carry more pricing power than raw generation.