Factory raises $200M at $5B valuation, betting big on enterprise AI coding agents
创业邦 · wechat · 2026-09-23
Enterprise AI coding company Factory raised $200M at a $5B valuation, with Blackstone, Sequoia, Khosla Ventures, Insight Partners and NEA participating — a 3x jump from its $1.5B C round just five months ago, bringing total funding past $400M.
Founded in 2023 by Princeton alumni Matan Grinberg and Eno Reyes, Factory's Droid agents serve hundreds of thousands of daily developers at clients including Nvidia, Adobe, EY and Palo Alto Networks, with revenue doubling month-over-month for six months. The company is shifting from 'helping engineers write code' to running entire R&D pipelines: Factory 2.0 lets multiple agents handle testing, code review, security analysis, deployment and incident response, while engineers focus on goals, permissions and final sign-off.
Key enterprise features include FactoryRouter, which routes tasks to cheaper models and reportedly cuts overall model costs by 58% (up to 76% per session), plus self-hosted, air-gapped deployments and FedRAMP compliance. Unlike model-locked tools such as Cursor, Factory positions itself as the middle layer between models and enterprise R&D. Similar moves are emerging in China: Ciyuan Wuxian, DeepWisdom's Atoms, Alibaba Cloud's Qoder and Feishu's CodeM are all pushing agents into enterprise development workflows.
Related event: Factory raises $200M at $5B valuation, tripling in five months(2 posts)→
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