Blacksmith becomes a unicorn with $66 million investment led by Sequoia
Blacksmith, which supports companies' software development and testing processes, completed a $66 million Series C funding round led by Sequoia, bringing its valuation to $1 billion.
The Blacksmith platform, which makes software development and testing processes more efficient, achieved a $1 billion valuation and attained unicorn status following a $66 million Series C investment round led by Sequoia.
Company founder and CEO Aditya Jayaprakash stated that they set out to make continuous integration processes less cumbersome. Jayaprakash noted that, especially with the increase in code written by artificial intelligence, many companies struggle to keep up with the continuous integration volume they need.
The company reported that the Series C investment round comes after a $45 million Series B investment completed just two months ago with a $550 million valuation. Having a $60 million valuation with a $10 million Series A investment round a year ago, Blacksmith has raised a total of $125 million to date. Multiplying its annual recurring revenue by 17 and performing over 90 million automated code checks, the startup also serves customers such as Mercury and Granola.
Sources
- techcrunch.com · Link