Replit raises $400M Series D

Georgian Partners, a previous investor, led the round. G Squared, Prysm Capital, Coatue, Andreessen Horowitz, Craft Ventures, Y Combinator, Accenture Ventures, Okta Ventures and Databricks Ventures also took part. Qatar Investment Authority and Tether are listed as backers too, along with Shaquille O'Neal and Jared Leto as individuals. The prior round was $250M in September at a $3B valuation, when annualized revenue was on track for $150M. No updated ARR figure came with this round, though the company told Forbes it hopes to reach $1B ARR by year-end. Replit plans to spend on its AI development tools, expansion in Europe, Asia and the Middle East, and infrastructure for rising demand. It says employees at 85% of Fortune 500 companies use the platform, and registered users exceed 50 million. Cursor's valuation reached almost $30B at the end of 2025, and Lovable followed at $6.6B. For AI founders, the valuation rests on a revenue target the company has not yet backed with current numbers, so the multiple is a bet on growth. The strategic investors come from data, identity and consulting, which points to enterprise distribution as the next competitive front for app-building tools. Crunchbase's record also understates total funding raised to date, so check figures before using them in comps.