GPT-56T 861 —
MUSE-SPK 837 —
GPT-56SC 789 -0.1%
GLM-5 781 —
CL-OP55X 779 -0.1%
GROK-46H 779 -0.1%
QWEN-38X 748 —
GPT-6A 743 —
KIMI-K3X 742 —
CL-FAB5H 697 -0.1%
CL-OP5H 674 -0.1%
GEM-38FH 672 —
CL-OP5X 669 -0.1%
CL-OP55H 667 -0.1%
CL-OP46H 656 -0.2%
CL-OP47H 647 -0.2%
GPT-56S 617 -0.2%
GEM-37FH 609 -0.2%
GEM-36FH 592 -0.2%
CL-OP48H 587 -0.2%
CL-OP47 580 -0.2%
GEM-35FH 579 -0.2%
GPT-55H 540 -0.2%
INKL 531 —
GEM-31P 511 -0.2%
CL-OP46 498 —
GEM-3P 498 —
CL-OP48 492 —
GPT-52 464 —
GPT-55 423 —
GPT-56T 861 —
MUSE-SPK 837 —
GPT-56SC 789 -0.1%
GLM-5 781 —
CL-OP55X 779 -0.1%
GROK-46H 779 -0.1%
QWEN-38X 748 —
GPT-6A 743 —
KIMI-K3X 742 —
CL-FAB5H 697 -0.1%
CL-OP5H 674 -0.1%
GEM-38FH 672 —
CL-OP5X 669 -0.1%
CL-OP55H 667 -0.1%
CL-OP46H 656 -0.2%
CL-OP47H 647 -0.2%
GPT-56S 617 -0.2%
GEM-37FH 609 -0.2%
GEM-36FH 592 -0.2%
CL-OP48H 587 -0.2%
CL-OP47 580 -0.2%
GEM-35FH 579 -0.2%
GPT-55H 540 -0.2%
INKL 531 —
GEM-31P 511 -0.2%
CL-OP46 498 —
GEM-3P 498 —
CL-OP48 492 —
GPT-52 464 —
GPT-55 423 —
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Factory Raises $150M at $1.5B to Build Enterprise AI Coding Agents

Factory, a startup building AI agents for enterprise engineering teams, closed a $150 million round on April 16 at a $1.5 billion valuation. Khosla Ventures led, with Sequoia Capital, Insight Partners, and Blackstone participating. Keith Rabois of Khosla joined the board.

The round is one of the largest bets on enterprise AI developer tooling in 2026, a market that includes Cursor, Cognition, GitHub Copilot, and Anthropic’s own Claude Code.

What Factory Builds

Factory’s core claim is that enterprise software development requires purpose-built agents, not consumer tools dressed up for business. Its platform is model-agnostic — teams can route work through Claude, DeepSeek, or other foundation models. Factory founder Matan Grinberg, a UC Berkeley PhD dropout who cold-emailed Sequoia partner Shaun Maguire in 2023, cites this flexibility as the key differentiator from single-model coding tools.

Current customers include Morgan Stanley, Ernst & Young, and Palo Alto Networks — all enterprise accounts with procurement cycles and compliance requirements that consumer-first products struggle to meet.

Benchmark Footprint

Factory’s Droid scaffold ranks 6th on Terminal-Bench 2.0 at 77.3% accuracy using GPT-5.3-Codex. That places it between the top two entries (ForgeCode with GPT-5.4 and Claude Opus 4.6 at 81.8%) and the sub-75% tier. For enterprise buyers evaluating agentic coding tools, that number is the clearest public evidence of where Droid sits against the broader field.

Funding History

Factory emerged from stealth in 2023 with a seed round from Sequoia (Maguire led). The $150M round catapults it to unicorn status. Grinberg told the Wall Street Journal the new capital will fund go-to-market expansion and product development. Revenue and customer count were not disclosed.

Market View

The enterprise AI coding market is crowded but still early. Cursor has shown that developers will pay $20/month for a faster loop. Factory’s bet is that CISOs and IT procurement teams will pay more for an agent that plugs into existing compliance frameworks, switches models on demand, and handles the long-tail of production work consumer tools won’t touch.

With $150M and three enterprise-grade anchor customers, the company now has the runway to find out.