Inside engineering organizations, the sequence of software development is changing. Developers, product managers, background agents and connected systems can now generate code or open pull requests continuously, meaning code can exist before a team has established alignment or determined whether the work should ship. That shift is the problem CodeRabbit is building to solve.
CodeRabbit, an artificial intelligence (AI) code review company, raised $143 million in a Series C funding round at a $1.5 billion valuation, the company said in a Wednesday (Aug. 12) announcement. The round was co-led by Atomico and Smash Capital, with participation from BMW i Ventures, Datadog, Hirtle Callaghan, SineWave Ventures and Scenic Management, alongside existing investors including CRV, Scale Venture Partners and Flex Capital. Luca Eisenstecken, partner at Atomico, will join the company’s board of directors.
The company will use the capital to accelerate international expansion and research and product development. The latest funding comes less than a year after CodeRabbit’s $60 million Series B and follows revenue growth of more than 5x year-over-year. CodeRabbit conducts more than 2 million code reviews each week and counts more than 17,000 customers, including Adyen, BMW, Indeed, JFrog and Nvidia.
Alongside the raise, CodeRabbit introduced Agentic Change Management, which it describes as the control layer for governing software created by people and AI agents alike. The platform validates changes using repository-wide context and organizational standards, then routes consequential work to human reviewers and automates low-risk changes. Three new capabilities accompany the launch: CodeRabbit Triage, which scores and routes incoming pull requests by value, urgency and risk; CodeRabbit Change Stack, which shows how a change affects the broader system; and CodeRabbit Security, which continuously scans production code for vulnerabilities and sends proposed fixes back through the pull request process.
CodeRabbit also committed more than $10 million to keep AI code review and agent capabilities free for open source projects over the next 12 months. The company has recently opened a London office and is planning to expand into Japan and other Asian markets.
The agentic security space is drawing attention from established AI players. PYMNTS reported that OpenAI introduced its own application security agent, Codex Security, in March, to identify complex vulnerabilities and minimize false positives as AI-accelerated development outpaces traditional review processes.
