StackBlitz, a software company focused on web development, recently announced plans to raise $83.5 million at a $700 million valuation. This round of financing was led by Emergence Capital and GV, with participation from a number of well-known venture capital investors. The core driving force of this financing is StackBlitz’s newly launched AI product Bolt.new. Since its launch in October last year, this AI-assisted website building platform has quickly attracted nearly one million users due to its ease of use and word-of-mouth spread, and has provided The company brings in tens of millions of dollars in annual revenue. This funding will help StackBlitz further develop its AI products and consolidate its position in the market.
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 its 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/
Highlight:
StackBlitz is in talks with investors and plans to raise $83.5 million at a $700 million valuation.
Its newly launched AI product Bolt.new attracts nearly one million users every month and has achieved annual revenue of tens of millions of dollars.
StackBlitz enables non-technical people to create web applications through simple instructions, lowering the programming threshold.
The successful financing of StackBlitz marks the high market recognition of its AI product Bolt.new, and also indicates that the field of AI-assisted website building will usher in new development opportunities. Bolt.new lowers the threshold for programming and opens the door to web application development for more people. It has huge potential for future development.