Graphite Secures $52M in Series B Funding to Advance AI-Powered Code Review Platform

Graphite Raises $52 Million in Series B Funding

Graphite, an AI-powered code review platform, has successfully secured $52 million in a Series B funding round. The investment was led by Accel, with participation from Anthropic's Anthology Fund, Menlo Ventures, Shopify Ventures, Figma Ventures, Andreessen Horowitz, and The General Partnership 1

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Company Background and Growth

Founded in 2020 by Tomas Reimers, Greg Foster, and Merrill Lutsky, Graphite initially focused on mobile development tooling before pivoting to code review. The startup has experienced significant growth, with revenue increasing 20-fold in 2024. It now serves tens of thousands of engineers across more than 500 companies, including high-profile clients such as Shopify, Snowflake, Figma, and Perplexity 1

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AI-Powered Code Review Platform

Graphite's platform leverages AI models from Anthropic and OpenAI to provide automated code review services. The company's core product, Diamond, offers features such as:

1. Flagging errors and potential oversights in code
2. Suggesting code changes based on developer comments
3. Summarizing code sections
4. Generating possible fixes for code failures 1

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To address reliability concerns associated with AI-powered coding tools, Graphite allows customers to define patterns unique to their codebases and set up filters for sensitive information, enhancing security 1

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Competitive Landscape

The AI coding assistant market is becoming increasingly competitive, with numerous players vying for market share. Notable competitors include:

1. GitHub Copilot
2. Cursor maker Anysphere
3. Poolside, Augment, Magic, and Codeium
4. CodeRabbit and DeepCode (focusing on AI-powered code review)
5. OpenAI's macOS ChatGPT app with code editing capabilities
6. Anthropic's assistive programming tool 1

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Future Plans and Industry Impact

With the new funding, Graphite plans to accelerate product development and expand its New York-based team of 30 employees. The company is also spinning out Diamond as a standalone product designed to catch coding bugs and errors automatically 1

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To increase adoption, Graphite has made its core code review offering free for teams of all sizes, removing the previous limitation of 10 or fewer users 1

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Christine Esserman, Partner at Accel, commented on Graphite's potential: "Graphite is becoming the go-to tool for the world's most forward-thinking engineering teams. It's becoming the canonical layer where humans and agents collaborate on code" 2

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Broader AI Adoption in Coding

The rise of AI-powered coding tools reflects a broader trend in the industry. According to GitHub's latest poll, the vast majority of respondents have adopted AI tools in some form. Jared Friedman, a Y Combinator partner, recently claimed that a quarter of YC's W25 startup batch have 95% of their codebases generated by AI 1

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As the AI coding assistant market continues to evolve, Graphite's latest funding round positions the company to compete effectively and potentially shape the future of collaborative coding between humans and AI agents.