On April 25, 2024, the AI programming assistant startup headquartered in California, USA, Augment announced that it has emerged from stealth mode and completed a $227 million Series B funding round, with a post-money valuation approaching unicorn status ($977 million). Investors in this round include venture capital firms such as Sutter Hill Ventures, Index Ventures, Innovation Endeavors, Lightspeed Venture Partners, and Meritech Capital. Combined with the previously led $25 million Series A funding by Sutter Hill Ventures, Augment's total funding has reached $252 million.
The company plans to use the raised funds to develop a product to compete with GitHub Copilot, namely an AI programming assistant.
Augment was co-founded in 2022 by former Microsoft and PureStorage engineer Igor Ostrovsky and former Google AI research scientist Guy Gur-Ari. Its AI platform aims to have a professional understanding of codebases, run at the speed of thought, support teams rather than just individuals, and carefully protect intellectual property. The company's goal is to provide AI support for software teams and disrupt the way software development is done today.
(Source:TechCrunch、Augment）