Investors Include Sutter Hill Ventures, Index Ventures, Innovation Endeavors, Lightspeed Venture Partners and Meritech Capital PALO ALTO, Calif. — A

Augment - Blog - Press Release

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2024-04-24 20:30:08

Investors Include Sutter Hill Ventures, Index Ventures, Innovation Endeavors, Lightspeed Venture Partners and Meritech Capital

PALO ALTO, Calif. — APRIL 24, 2024 — AI coding assistance startup Augment Inc. emerged from stealth today and announced its $227 million Series B round at a $977 million post-money valuation with investments from Sutter Hill Ventures, Index Ventures, Innovation Endeavors, Lightspeed Venture Partners and Meritech Capital. This brings Augment’s total funding to $252 million, following its $25 million Series A led by Sutter Hill Ventures. The latest capital infusion will be used by Augment to accelerate product development and build out its product, engineering and go-to-market functions as the company gears up for rapid growth.

The company is 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. It is 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’s engineering team boasts deep AI and systems expertise, with alumni from Google, Meta, NVIDIA, Microsoft, Databricks, Snowflake, VMware and Pure Storage.