News Summary

Graphite, an AI-powered code review platform, has successfully raised $52 million in a Series B funding round led by Accel. The funding round saw participation from notable investors including 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 initially focused on mobile development tooling but later pivoted to specialize in code review. The platform utilizes AI models from Anthropic and OpenAI to provide detailed feedback on code, suggest improvements, and flag potential errors. With this new funding, Graphite plans to further develop its products and expand its NYC-based team. The company also announced the launch of Diamond, a new AI tool designed to automatically detect coding bugs and errors. Graphite’s platform has seen significant growth, now serving over 500 companies including Shopify, Snowflake, and Figma, with a 20x revenue growth in 2024. The core code review service is now free for teams of all sizes, previously limited to groups of 10 or fewer. To date, Graphite has raised around $81 million in venture capital.