The race to back AI-powered coding assistants is heating up—and Graphite just secured a significant vote of confidence. The startup announced a $52 million Series B round led by Accel, with participation from Anthropic’s Anthology Fund, Menlo Ventures, Shopify Ventures, Figma Ventures, Andreessen Horowitz, and The General Partnership.
Founded in 2020 by Tomas Reimers, Greg Foster, and Merrill Lutsky, Graphite started as a mobile development tool. But after experiencing firsthand how time-consuming code reviews can be, the team pivoted. Today, Graphite focuses squarely on AI-assisted code review, helping developers spot errors, summarize code, and even suggest fixes—all powered by models from Anthropic and OpenAI.
“What began as an internal tool to ease our own code review pain points quickly snowballed,” said Lutsky. “Once ex-Meta engineers got their hands on it, demand exploded.”
Graphite’s platform now goes beyond flagging potential issues. It generates suggestions from developer comments, summarizes complex code, and proposes fixes for failures—all while integrating directly into developer workflows.
With its next move, Graphite is spinning out Diamond, a standalone AI product designed to catch coding bugs and errors automatically, offering an added layer of protection for engineering teams.
The AI coding assistant market is booming, with heavyweights like GitHub Copilot, Cursor’s Anysphere, Poolside, and Codeium leading the pack. Even OpenAI and Anthropic—Graphite’s own backers—are rolling out new features aimed at developers.
However, Graphite is carving out a niche by tackling one of the biggest pain points in AI-assisted coding: trust and reliability. The platform lets companies customize code review rules, define unique patterns for their codebase, and set filters to protect sensitive information—features that many competitors lack.
“We’ve prioritized giving teams control over what the AI sees and suggests,” Lutsky explained. “That’s helped us earn the trust of major customers.”
Graphite’s approach is paying off. In 2024, the company’s revenue grew 20x, and the platform now serves tens of thousands of engineers across 500+ companies. Big names like Shopify, Snowflake, Figma, and Perplexity AI are already onboard.
The startup also expanded its free tier, removing size limits so teams of any size can access its core code review tools for free—a strategic move designed to accelerate adoption.
With this latest round, Graphite has now raised around $81 million in venture funding. The 30-person NYC-based team plans to invest heavily in product development and team expansion, while staying laser-focused on profitability.
“This funding gives us years of runway and the resources to scale aggressively,” Lutsky added. “We’re just getting started.”
As AI coding assistants become a staple in the developer toolkit, Graphite is betting that security, reliability, and customization will set its platform apart in a market crowded with shiny new tools.
