Factory

Summary active Updated Apr 19, 2026

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Location San Francisco, California
Founded 2023
Latest Stage Series C
Total Raised $220M+
Website https://factory.ai
Sector
AI developer-tools enterprise

Investors

Keith Rabois series-c (2026)
Shaun Maguire Seed (2023)
Khosla Ventures series-c (2026)
New Enterprise Associates (NEA) series-b (2025)
Sequoia Capital series-b (2025)
Sequoia Capital series-a (2024)
Insight Partners series-c (2026)

Founders

Matan Grinberg Co-Founder & CEO
Eno Reyes Co-Founder

About

Factory is a San Francisco-based startup building AI coding agents (“Droids”) for enterprise software development teams 12. Founded in 2023 by Matan Grinberg and Eno Reyes, the company reached a $1.5 billion valuation with its Series C 12. Factory’s AI agents are used daily by hundreds of thousands of developers at enterprises including Nvidia, Adobe, EY, Palo Alto Networks, Adyen, MongoDB, Bayer, Zapier, Clari, Bilt, Profound, and Rogo 1. The platform extends beyond code generation into testing, review, documentation, and deployment 1. The company has doubled revenue month-over-month for six consecutive months 2.

Funding History

Date Round Amount Lead Co-investors
2026-04-16 Series C $150M Khosla Ventures Sequoia Capital, Blackstone, Insight Partners, Evantic Capital, 20VC, NEA, Mantis VC 12
2025-09 Series B $50M NEA Sequoia Capital, J.P. Morgan, Nvidia, Abstract Ventures, Mantis Ventures 3
2024 Series A $15M Sequoia Capital Lux Capital, Mantis VC 2
2023 Seed $5M — — 2

What Investors Say

Keith Rabois of Khosla Ventures joined Factory’s board as part of the Series C round 1.

What Founders Say

No verified founder quotes available at this time.

Sources

  1. TechCrunch, “Factory hits $1.5B valuation to build AI coding for enterprises,” April 16, 2026. https://techcrunch.com/2026/04/16/factory-hits-1-5b-valuation-to-build-ai-coding-for-enterprises/↩↩↩↩↩↩

  2. Factory Blog, “Factory raises $150M Series C,” April 16, 2026. https://factory.ai/news/series-c↩↩↩↩↩↩

  3. BusinessWire, “Factory Unleashes the Droids, Raises $50 Million Series B from NEA, Sequoia Capital, NVIDIA, and J.P. Morgan,” September 25, 2025. https://www.businesswire.com/news/home/20250925993478/en/Factory-Unleashes-the-Droids-Raises-$50-Million-Series-B-from-NEA-Sequoia-Capital-NVIDIA-and-J.P.-Morgan↩