Artificial Intelligence Coding Assistance StartupAugment Inc. today announced the closing of a $227 million Series BFinancing, with a post-investment valuation of $977 million. The round was participated by Sutter Hill Ventures, Index Ventures, Innovation Endeavors, Lightspeed Venture Partners and Meritech Capital.
Augment Inc. was founded by Igor Ostrovsky, former chief architect of Pure Storage, and Guy Gur-Ari, an artificial intelligence researcher from Google, by industrySeniorThe company is led by Scott Dietzen. The company has an elite engineering team from tech giants such as Google, Meta, and NVIDIA.
Mike Speiser, Managing Director of Sutter Hill Ventures, said Augment has built a great team and is the enterprise AI spaceOptimalOne of the teams of Show. They have a great track record of deliveringoptimalWith an excellent track record of solutions and services, Sutter Hill Ventures is confident in Augment's future growth.
By 2027, Gartner predicts that 50% enterprise software engineers will be using machine learning-driven coding tools. However, current AI coding assistants are unable to fully understand programmers' intentions and significantly improve software quality and team productivity.
Augment Inc. aims to provide software engineers with a smarter and more efficient collaboration experience through its AI-powered coding platform, enabling them to deliver more and better software. Igor Ostrovsky, the company's co-founder, said software engineering is moving toward collaboration between humans and AI.
Scott Dietzen, CEO of Augment Inc. said the company is excited to launch a product that bridges the current adoption gap of AI on code platforms, and Ty Schenk, CEO of Keeta, confirmed that Augment's solution has already delivered more than 401 TP3T in developer productivity.
According to Guy Gur-Ari, co-founder of Augment Inc. artificial intelligence has the potential to make software developers 10 times more productive, but it requires in-depth study of AI code combined with advanced systems engineering. It is with this unique advantage that the company is working to change the way software development is accomplished.