Sourcegraph raises $125M in Series D at $2.625B valuation from Andreessen Horowitz

SaaS News -Sourcegraph-raises-$125M-Series-D-on-$2.6B-valuation-for-universal-code-search-tool(source: SaaS Industry)
At a Glance

Sourcegraph has raised $125M in Series D from a16z and others. The total funding raised by the company crosses $225M with this round and it aims to make its search engine easier to set up and add more features to help developers with the funding 

Sourcegraph has announced a $125 million fundraise in a Series D round led by Andreessen Horowitz (a61z), with participation from Insight Partners, Geodesic Capital and other existing investors, the company announced officially on its blog. The round values the company at $2.625 billion, a three-fold increase from its valuation during Series C.

Sourcegraph raised $50 million in Series C in December last year from Sequoia Capital. With the close of Series D, the total funding raised by Sourcegraph has touched $225 million, the company said. Sourcegraph, founded in 2013, provides a search engine that helps developers detect specific lines of code in an application’s codebase. 

Sourcegraph offers the search engine as a free, open-source tool and a paid version with added features. Earlier, for developers to modify a piece of code to add a feature or fix a bug, they had to undergo the time-consuming chore of finding the code in complex enterprise applications with millions of code lines. However, using Sourcegraph’s search engine, developers would be able to jump to the specific part of an application they’re looking to edit.

The company said that it would use the funding to add more features to its platform and also make its search engine easier to set up. It plans to improve support for popular programming languages and enable its search engine to work better with the code editors that developers use to write software. 

Our new and existing investors will partner with us to help launch new products and bring Universal Code Search to every dev at every company of every size and scale

Sourcegraph wrote on its blog.

Behind Sourcegraph is exactly the right team to create the next transformational company in developer tools. Quinn and Beyang are brilliant, mission-driven, open-minded, and relentless. They have the kind of grit we can only hope for in the best founders and we’ve seen evidence of that in every single meeting we’ve had with them over the years.

A16z wrote on its blog
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