(Reuters) – Replit said on Tuesday it has raised $97.4 million in a recent financing round that valued the cloud developer platform at more than $1 billion.
The series B fund-raise which was led by Andreessen Horowitz, also included Cathie Woods’ ARK Ventures and SV Angel among others.
The funding underscores a growing affinity for companies to tap private investors at a time turbulent markets and a risk-off sentiment have throttled the appetite for public listings.
Earlier this month, LayerZero Labs raised $120 million that tripled the valuation of the blockchain messaging protocol platform to $3 billion.
San Francisco-based Replit said it will use the new funds to innovate on its core development experience and expand its cloud services for developers.
(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Shounak Dasgupta)
