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4d ago

CodeRabbit Raises $143 Million at $1.5 Billion Valuation to Build an Agentic Change Management Layer

The company says the funding will bankroll tools that triage AI-written changes, monitor production code continuously and expand its presence in Europe and Asia.

AI (Artificial Intelligence) letters and robot hand miniature in this illustration taken, June 23, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
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Overview

  • The San Francisco startup closed a $143 million Series C led by Atomico and Smash Capital with new investors including BMW i Ventures and Datadog.
  • CodeRabbit launched an Agentic Change Management suite with three products: Triage, which flags which AI-generated pull requests need human review; Change Stack, which maps a change’s impact across a codebase; and CodeRabbit Security, which scans deployed code for vulnerabilities on an ongoing basis.
  • The company reports more than two million code reviews per week for about 17,000 customers such as NVIDIA, BMW and Adyen and says revenue grew over fivefold year over year.
  • Proceeds will fund research and product development, a Europe and Asia expansion including Japan, and a commitment of over $10 million to keep its AI review tools free for open-source maintainers.
  • Investors and executives frame CodeRabbit as an independent governance layer for AI-written code as demand for automated review and continuous security grows and competition from rivals like Qodo, Greptile and CodeAnt AI intensifies.