"Gill's prediction has come true: developers are now regularly using AI coding assistants to generate code, but the output is often buggy, forcing engineers to spend a lot of time on corrections. CodeRabbit can help catch some of the errors. The business has been growing 20% a month and is now making more than $15 million in annual recurring revenue (ARR), according to Gill."
"On Tuesday, CodeRabbit announced that it raised a $60 million Series B, valuing the company at $550 million. The round, which brought the startup's total funding to $88 million, was led by Scale Venture Partners with participation of NVentures, Nvidia's venture capital arm, and returning investors including CRV. CodeRabbit is helping companies like Chegg, Groupon, and Mercury, along with over 8,000 individual developers, save time on the famously frustrating task of code review."
Developers are increasingly using AI coding assistants that often produce buggy output, creating significant code-review bottlenecks. CodeRabbit, formed in early 2023 after acquiring FlexNinja, offers an AI-powered code review platform that understands company codebases to identify bugs and provide feedback. The platform can reduce the number of humans needed for code review by roughly half and serves customers including Chegg, Groupon, and Mercury plus over 8,000 individual developers. The business is growing about 20% monthly, exceeds $15 million in ARR, and recently raised a $60 million Series B at a $550 million valuation.
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