Augment Code

Augment Code is a technology company.

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Updated: Feb 17, 2026 ·

Recent News & Mentions

Apr 1, 2024FundingAugment Code - Series B Dec 1, 2023FundingAugment Code - Series A

Financial History

Augment Code has raised $255.0M across 2 funding rounds. Most recently, it raised $230.0M Series B in April 2024.

Total Raised

$255.0M

Valuation

N/A

Funding Rounds Raised

Date	Round	Lead Investors	Other Investors
Apr 1, 2024	$230.0M Series B		Alchemy Ventures, Alkeon Capital, Amazon Alexa Fund, AngelPad, CapitalG, Chalfen Ventures, Cisco Investments, Equal Ventures, Founders Fund, Tom Hulme, Index Ventures, Innovation Endeavors, Lightspeed Venture Partners, March Capital, Meritech Capital Partners, Next47, Glenn Solomon, Paladin Capital Group, ParaFi Capital, Scale Venture Partners, Sutter Hill Ventures, The Hit Forge, True Ventures, Uncork Capital, Anthony Pompliano, Arash Ferdowsi, Drew Houston, Ellie Wheeler, Kyle Vogt, Richard Fearn
Dec 1, 2023	$25.0M Series A		Next47, Sutter Hill Ventures

Financial History

Augment Code has raised $255.0M across 2 funding rounds.

Total Raised

$255.0M

Valuation

N/A

Deep Dive

High-Level Overview

Augment Code (Augment Inc.) is an AI-powered software development platform that deploys autonomous coding agents to handle end-to-end tasks like planning, building, and creating pull requests, integrated into IDEs and the cloud.[1][3] It serves software engineers and teams at enterprises, addressing developer toil through superior codebase understanding, context retrieval, and productivity boosts—early users report over 40% gains—while prioritizing security and IP protection.[1][3][4] Founded in 2022 and emerging from stealth in 2024, the Palo Alto-based company has raised $252M from top VCs like Sutter Hill Ventures, Index Ventures, Lightspeed, Innovation Endeavors (backed by Eric Schmidt), and Meritech, achieving a near-unicorn $977M valuation.[1][2][4]

The platform's context engine excels at retrieving dependencies across large codebases, enabling precise autocomplete, chat refinements, and agentic workflows in tools like VS Code, JetBrains, Vim, and CLI, with features for terminal commands, images, memories, and multi-tool integrations.[3]

Origin Story

Augment Code was founded in 2022 by Igor Ostrovsky, former chief architect at Pure Storage and Microsoft software engineer, and Guy Gur-Ari, ex-Google AI researcher, who assembled a team of AI and systems experts from Google, Meta, NVIDIA, Microsoft, Databricks, Snowflake, VMware, and Pure Storage.[1][4][5] The idea stemmed from recognizing AI's potential to 10x developer productivity via deep code-specific research and advanced engineering, transforming painful software development into joyful, efficient work.[1][5]

Scott Dietzen (ex-Pure Storage, Yahoo, WebLogic/BEA) joined as CEO, and Dion Almaer (Google, Shopify, Mozilla, Palm) as a key leader, bringing decades of developer tools experience.[1][5] The company stayed stealth until 2024, launching with $227M+ funding amid booming AI coding demand, quickly gaining traction like Keeta's 40% productivity lift.[1][4]

Core Differentiators

Industry-leading context engine: Proprietary retrieval grasps full codebases and dependencies for hallucination-free, production-ready code, outperforming rivals in large-scale understanding.[1][3]
Autonomous agents: Local/remote agents plan, code, run terminal commands (with approval), and open PRs end-to-end, integrated into IDEs, CLI, and 100+ tools via MCP.[3]
Team-scale architecture: Supports enterprise teams with tenant isolation, IP protection, memories/rules for best practices, tasklists, smart applies, and focus on parallel work for smaller, faster groups.[3][5]
Developer-centric speed and privacy: Operates at "speed of thought" in VS Code/JetBrains/Vim/Neovim/TUI, with image/wireframe support, enhanced prompts, and no data sharing by default—trusted by engineers at top firms.[3]

Role in the Broader Tech Landscape

Augment rides the AI-agentic coding wave, where Gartner predicts 75% of developers will use assistants by 2028, amid pilots in over half of organizations, fueled by frontier models and remote agent tech.[3][4] Timing is ideal post-ChatGPT, as software costs remain high and painful—Eric Schmidt notes AI's transformation potential—positioning Augment against pioneers like Cursor, Anysphere (Cursor), Sourcegraph, and CodeComplete in a nascent, high-stakes market.[1][2][4]

Market forces like exploding enterprise dev needs and IP concerns favor its codebase-aware, secure agents, influencing the ecosystem by enabling 10x productivity, smaller teams, and hybrid human-AI engineering, potentially reshaping dev workflows like GitHub/GitLab did for version control.[1][4][5]

Quick Take & Future Outlook

Augment's elite team, massive funding, and context superiority position it to dominate AI coding agents, scaling from autocomplete to full autonomy as models advance.[1][3][5] Trends like multi-agent systems, deeper IDE/cloud integration, and enterprise adoption (e.g., 40%+ productivity) will propel growth, potentially hitting unicorn status soon amid competition.[2][4]

Its influence may evolve to redefine "software teams," empowering smaller groups to ship ambitious products faster—echoing the overview's promise of AI removing toil for coding joy.[1][3]

Sources

Frequently Asked Questions

How much funding has Augment Code raised?

Augment Code has raised $255.0M in total across 2 funding rounds.

Who are Augment Code's investors?

Augment Code's investors include Alchemy Ventures, Alkeon Capital, Amazon Alexa Fund, AngelPad, CapitalG, Chalfen Ventures, Cisco Investments, Equal Ventures, Founders Fund, Tom Hulme, Index Ventures, Innovation Endeavors.