AI software developer platform Replit has raised $250 million in funding, valuing the company at $3 billion. The company’s annualized revenue jumped from $2.8 million to $150 million in less than a year. Investors are backing AI startups like Replit that assist with code generation. Prysm Capital led the funding round, with Google’s AI Futures Fund and Amex Ventures also investing. Replit plans to use the funding for research, development, and marketing. The company’s differentiated product focuses on vibe-coding tools for non-technical users in enterprises. Replit’s new tool, Agent 3, tests and fixes code autonomously. Other code-gen startups like Cognition and Cursor have also seen significant funding and valuation growth in recent months.

Read more at Yahoo Finance: AI software developer Replit raises $250 million at $3 billion valuation