On Wednesday, Blacksmith, which helps companies build and test software more efficiently, including writing code with AI, announced the completion of a $66 million Series C financing round led by Sequoia Capital, bringing the company's valuation to $1 billion.

When announcing this round of financing, Blacksmith, co-founder and CEO Aditya Jayaprakash, stated that the original intention behind founding the company was to make continuous integration (the process of building, testing, merging, and verifying code changes) "less painful." He wrote in a blog post, "Most companies are struggling to keep up with the volume of CI they need to operate, especially in an era where a large amount of code is being written by AI."

He added, "As agents write more and more software, the truly important question is whether they can be trusted."

The company also announced that its annual recurring revenue has increased by 17 times, and it has executed over 90 million CI tasks, which are individual automated code checks. Its clients include Mercury and Granola.

Just two months have passed since this round of Series C financing, which follows its $45 million Series B financing, which valued the company at $550 million. A year ago, Blacksmith was valued at $60 million after completing a $10 million Series A financing round. To date, the company has raised a total of $125 million in financing.