Augment Raises $227M in Series B Funding at $977M Valuation


Augment, a Palo Alto, CA-based AI coding assistance startup, raised $227M in Series B funding at $977M valuation.

Backers included Sutter Hill Ventures, Index Ventures, Innovation Endeavors, Lightspeed Venture Partners and Meritech Capital.

The company intends to use the funds to accelerate product development and build out its product, engineering and go-to-market functions.

Founded in 2022 Founded by Igor Ostrovsky, former chief architect at Pure Storage and software engineer at Microsoft, and Guy Gur-Ari, an AI researcher who hails from Google, and led by industry veterans Scott Dietzen, whose previous leadership experience includes Pure Storage, Yahoo! and WebLogic / BEA Systems, and Dion Almaer, an alumnus of Google, Shopify, Mozilla and Palm, Augment emerged from stealth in 2024 to bring AI coding assistance innovations to developers and software teams. The company’s platform is optimizedĀ for large codebases, operatesĀ at speed, producesĀ running code, supportsĀ multiple developers & teams, and includes IP protections with architecture already SOC-2 Type 1 compliant, and pen-test validated.