Financial news reports, company announcements

Eric Schmidt-Backed Augment Launches, Raises $252M to Rival GitHub Copilot

Apr 29, 2024, 04:00 PM

Augment, a new AI coding assistant startup backed by Eric Schmidt, has officially launched, announcing a substantial $252 million funding round at a $977 million valuation. This follows a $25 million Series A led by Sutter Hill. Positioned as a rival to GitHub's Copilot, Augment aims to empower software developers with advanced AI tools. The company's emergence from stealth was highlighted by multiple sources, including a significant investment announcement and endorsements from the tech community.