​AI programming tool StackBlitz is about to raise funds, with a valuation of US$700 million

Text: According to Bloomberg, developer tools company StackBlitz Inc. is in talks with investors and plans to raise funds at a valuation of US$700 million. The company's CEO Eric Simons said the deal will be led by Emergence Capital and GV (formerly Google Ventures), and StackBlitz expects to raise $83.5 million in funding. The financing will also see participation from investors including Madrona Venture Group, Conviction and Mantis.

Founded in 2017, StackBlitz was originally a software company focusing on web development, but its recent launch of the AI ​​product Bolt.new has enabled it to find a new market position. Bolt.new is a platform that uses artificial intelligence to help users build websites. Since its launch in October last year, it has attracted nearly one million users every month, mainly through word-of-mouth. Simmons revealed that the service generates tens of millions of dollars in recurring revenue for the company annually.

When talking about the company's development, Simons said that StackBlitz almost faced disbandment five months ago, but the launch of Bolt.new changed this situation and became a successful product after "seven years of hard work." An important feature of this platform is that even users with limited technical skills can create web applications through voice commands, which greatly lowers the threshold for programming.

After this financing, Joe Floyd, a partner at Emergence Capital, will join the StackBlitz board of directors. He pointed out that Bolt.new achieved rapid revenue growth within three months of launch, and the growth rate exceeded that of Zoom, Previous investments in Salesforce and others. Erik Nordlander, a partner at GV, also said that StackBlitz makes software development more accessible, calling its flagship product "the fastest way to build applications."

According to PitchBook data, other investors in StackBlitz include Flex Capital, Greylock Partners and Tribe Capital.

Product entrance: https://bolt.new/