StackBlitz Inc., a prominent player in the developer tools sector, is currently in discussions with investors to secure funding at a valuation of $700 million. According to a report by Bloomberg, the company aims to raise $83.5 million in this financing round, which is expected to be led by Emergence Capital and GV (formerly known as Google Ventures). Other notable investors participating in this round include Madrona Venture Group, Conviction, and Mantis.

Founded in 2017, StackBlitz initially focused on web development software. However, the company has recently pivoted towards a new market opportunity with its innovative AI product, Bolt.new. Launched last October, Bolt.new allows users to build websites using artificial intelligence and has attracted nearly one million users monthly through organic growth and word-of-mouth marketing. CEO Eric Simons highlighted that this platform is generating tens of millions of dollars in recurring revenue each year.

In discussing the company's evolution, Simons shared that StackBlitz faced potential dissolution just five months prior to the launch of Bolt.new. The successful introduction of this product marked a significant turnaround for the company, which has been developing the platform for seven years. One of the standout features of Bolt.new is its ability to enable users, even those with limited technical skills, to create web applications using simple voice commands. This functionality greatly reduces the barriers typically associated with programming.

Following the completion of this funding round, Joe Floyd, a partner at Emergence Capital, will join the StackBlitz board. Floyd noted that Bolt.new experienced rapid revenue growth, achieving milestones within three months of its launch that surpassed previous investments in companies such as Zoom and Salesforce. Erik Nordlander, a partner at GV, praised StackBlitz for making software development more accessible, calling it "the fastest way to build applications."

According to data from PitchBook, StackBlitz has also received investments from Flex Capital, Greylock Partners, and Tribe Capital. The collaborative efforts of these investors highlight the growing confidence in StackBlitz’s potential to reshape the landscape of web development through AI.

For more information about the platform, visit Bolt.new.