Graphite is a developer tools company that builds an AI-powered code review platform built on the concept of stacked diffs (stacked pull requests), which lets engineers break large changes into a sequence of smaller, dependent reviews. Founded in 2020 by ex-Airbnb engineers Merrill Lutsky, Tomas Reimers, and Greg Foster, the New York-based company expanded from CLI tooling for stacked PRs into a full code review surface and launched Diamond, an AI reviewer that automatically detects and helps resolve bugs. Graphite scaled to serving tens of thousands of engineers at more than 500 companies, including Shopify, Snowflake, Figma, and Perplexity, with revenue growing roughly 20x in 2024. In December 2025, Graphite was acquired by AI coding startup Cursor (Anysphere) at a price reported to be 'way over' its prior $290M Series B valuation, with both products planned to operate independently in the near term and integrate more deeply through 2026.
Graphite (Software Development Applications) has been acquired
This company is no longer available on our private secondary market.
Company data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Founded
2020
Total Funding
$72M
3 rounds
Total raised $72M across 3 rounds
Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Last updated 06-25-2026
Latest Round
Type
Series B
Date
March 18, 2025
Amount
$52M
Valuation
—
Lead Investors
| Date | Round | Amount Raised | Valuation | Lead Investors |
|---|---|---|---|---|
| March 18, 2025 | Series B | $52M | — | Accel |
| May 3, 2022 | Series A | $20M | — | Andreessen Horowitz |
| November 22, 2021 | Seed | Not disclosed | — | Homebrew |
Merrill Lutsky
Co-Founder & CEO
Tomas Reimers
Co-Founder
Greg Foster
Co-Founder & CTO
Competitor list is illustrative and may be incomplete, stale, or erroneous.
GitHub
Microsoft-owned code hosting and pull-request review platform; the default code review surface Graphite layered on top of and competes with for native review experience.
GitLab
Public DevOps platform combining source control, CI/CD, and code review (merge requests) competing with Graphite for the code review workflow.
CodeRabbit
AI-native code review startup that analyzes pull requests and auto-generates review comments, directly competing with Graphite's Diamond AI reviewer.
Greptile
AI code review startup that builds repo-aware understanding to flag bugs in pull requests; an emerging competitor to Graphite Diamond.
Phabricator / Phorge
Open-source code review tool (originally from Facebook) historically associated with the stacked-diff workflow; conceptual predecessor and lightweight competitor to Graphite.
Reviewable / Gerrit
Standalone code review tools layered on Git/GitHub used by engineering teams seeking richer review workflows than native PRs.
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