Coframe raises $25M Series A co-led by Khosla Ventures and Hanabi Capital
Coframe, a San Francisco startup, said on November 9, 2026 that it has raised $35 million in total funding, including a $25 million Series A co-led by Khosla Ventures and Hanabi Capital. According to Unite.AI, which reported the round, leaders at OpenAI, Anthropic and Google DeepMind also participated, and Nat Friedman and Antler are among its wider backers. Founder Josh Payne started the company in 2023. The company did not disclose a valuation.
Coframe builds websites, landing pages and ads that generate variations of themselves, test them and deploy the winners. Its platform connects to a company's site or ad campaigns and produces personalized variants in real time, so each visitor can see a different version. The engine is a specialized transformer trained on user behavior, working alongside AI agents that cover strategy, design, engineering, QA and data science. The company reports more than $300 million in incremental customer revenue and an average conversion-rate lift above 20%, with Dropbox, BCG, Block, Backcountry and Sur La Table among customers. These are company-reported figures.
Proceeds will fund product development, AI agent capabilities and scaling, according to FinSMEs. The company's earlier seed round was $9.3 million, co-led by Khosla Ventures and NFDG, according to Reuters. Dealroom says the Series A sits in the 90th percentile for comparable US enterprise software rounds at this stage. Apps and email are next on the roadmap.
Why it matters
For AI founders, the round shows investors will back products that automate marketing experiments, a category long served by conversion rate optimization software. Coframe argues that one system can combine autonomous testing, content generation and behavioral modeling instead of several separate tools. Startups selling into growth teams should expect buyers to measure them against that end-to-end promise. That framing also raises the bar for pricing, since buyers will compare results against the cost of running their own experiments.
For operators and investors, the key detail is the data. A model trained on how people move through digital experiences improves only as its interaction data grows, so the edge depends on deployments competitors cannot easily copy. The performance figures are company-reported, so buyers and backers will likely want independent measurement before assuming a 20% lift is typical.
Key points
- 1Coframe has raised $35 million in total funding, including a $25 million Series A.
- 2Khosla Ventures and Hanabi Capital co-led the Series A, and no valuation was disclosed.
- 3Josh Payne founded the San Francisco company in 2023 to build self-optimizing websites, landing pages and ads.
- 4The company's earlier seed round was $9.3 million, co-led by Khosla Ventures and NFDG.
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