Blitzy, an autonomous software development startup, said it has raised $200 million in a funding round that values it at $1.4 billion, making it the latest company to receive major investor backing to streamline coding for large enterprises with the help of AI.
Cambridge, Mass.-based Blitzy has now raised more than $204.4 million. Northzone led its latest financing. New investors including PSG, Battery Ventures and Jump Capital also participated, as did existing backers such as NFX, Link Ventures and Flybridge. The company said it also received strategic investments from Liberty Mutual Strategic Ventures, Erie Strategic Ventures and BAL Ventures.
Blitzy claims that its platform autonomously completes months of software development, including automated testing and quality validation. It further claims to increase engineering velocity by 5x “for some of the world’s largest enterprises.”
![Blitzy co-founders Brian Elliott (CEO), left, and Sid Pardeshi (CTO). [courtesy photo]](https://news.crunchbase.com/wp-content/uploads/Blitzy-cofounders-2-225x300.jpg)
While Blitzy did not reveal hard revenue figures, it said that its technology has been adopted by “dozens” of Global 2000 enterprises across 10 industries, including State Street and QAD. The company says it was built on the premise that frontier models alone would not solve enterprise software development.
“We believed that delivering production-ready code for the enterprise would come from fusing hyperscaled agent orchestration and a system that deeply understands the legacy codebases it is working within,” Brian Elliott, co-founder and CEO of Blitzy, said in a press release.
Elliott, who also previously founded Wove and is a former Army Ranger, started Blitzy with Nvidia alum Sid Pardeshi in 2023. Pardeshi holds more than 27 patents related to neural networks, image generation, and AI-driven interface translation.
Big money for AI software development
Several other companies in the AI software development space have raised large rounds over the past year. They include:
- Anysphere, which sells the popular AI coding assistant Cursor. The company has raised $3.4 billion and was most recently valued at over $29 billion. The company has since struck a deal with SpaceX that gives the Elon Musk-led space exploration company the right to buy Anysphere for $60 billion later this year.
- Replit, a cloud-based development platform, has raised more than $870 million, including a March $400 million Series D that valued the company at $9 billion.
- Lovable, a Swedish AI vibe coding startup, has raised more than $550 million, including a December $330 million Series B financing at a $6.6 billion valuation.
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Illustration: Dom Guzman
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