Graphite funding, valuation and investors

Latest tracked event: Acquired by Cursor (Anysphere) (December 2025). It is shown separately because it is not counted as disclosed equity funding.

Overview

Graphite, founded in 2020 by Merrill Lutsky, Tomas Reimers, and Greg Foster in New York City, provides AI-assisted code review, merge queues, and "stacked PR" workflows for engineering teams. The product integrates with GitHub to help developers ship dependent changes faster than native GitHub workflows. After an initial mobile QA pivot, the team refocused on code review in 2021 and scaled to hundreds of companies including Shopify, Snowflake, and Figma. Andreessen Horowitz led a $20M Series A (2022); Accel led a $52M Series B (2025) with Menlo Ventures' Anthology Fund and a16z participating. In December 2025, Cursor maker Anysphere acquired Graphite; the product continues independently with planned deeper Cursor integration.

Why Graphite is interesting

Graphite pivoted from mobile QA to stacked pull requests and grew revenue 20x in 2024; Cursor bought it to merge AI coding's inner loop with review/merge outer loop while a16z led the Series A.

Product & use cases

Graphite adds CLI and web tools for stacking pull requests, automated merge queues, and AI code review on top of GitHub—aimed at teams where trunk-based development and review bottlenecks slow releases.

• Stacking dependent PRs without waiting for sequential merges on GitHub
• AI-assisted review flagging bugs and style issues before human review
• Merge queue automation for high-velocity monorepos at scale-ups

Key facts

• Series A (2022): $20M led by a16z (Tracxn/Global Legal Chronicle)
• Series B (Mar 2025): $52M led by Accel; ~$81–90M total raised (TechCrunch/Contrary)
• Revenue grew 20x in 2024; 500+ companies, tens of thousands of engineers (TechCrunch)
• Acquired Dec 2025 by Cursor; continues as independent product (Contrary Research)

Funding history (newest first)

Investors in our directory

Funds linked from Graphite's profile — open a fund page for stage focus and related deal articles.

Competitive landscape

Edge: Deep GitHub-native stacked PR workflow plus AI reviewer—features many teams argue GitHub should have built; strong adoption among fast-moving product eng orgs.

Graphite carved a niche between GitHub's baseline PRs and full DevOps suites. AI coding tools accelerated code output, making review the bottleneck—Cursor's acquisition links generation and review. Standalone competitors offer AI comments but rarely stacked PR depth; GitHub could close gaps over time.

• GitHub (native PRs) incumbent

  Default code hosting and review; Graphite layers workflow tools GitHub lacks for stacked changes.

• CodeRabbit direct

  AI code review bots on PRs; less focus on stacked PR workflow and merge queues.

• Cursor direct

  Acquirer and partner—AI editor for writing code; Graphite handles review/merge outer loop.

• Copado / Sonar adjacent

  DevOps quality and release tooling; overlapping buyer but different primary job-to-be-done.

Notable stories

• CEO Lutsky founded Posmetrics (YC W13) before Graphite—college feedback tool acquired, then returned to Harvard where he met co-founders (Contrary Research).
• Graphite pivoted after internal code review tooling saw 2x expected organic adoption at launch (Contrary Research).
• Lutsky said metrics were "as strong as ever" at acquisition—deal driven by Cursor integration vision, not distress (YouTube/TITV interview).

Industries

Related funding articles

Venture Capital Tracker pieces that cover Graphite's financing or category context.

• a16z Portfolio Companies on Fire in 2026: AI, American Dynamism & More