Convex reels in $57M for its AI-optimized application backend
Developer tooling startup Convex Inc. today disclosed that it has closed a $57 million funding round led by Insight Partners. Etna Labs, Andreessen Horowitz and Spark Capital also contributed to the Series B investment. It brings Convex’s total outside funding to $110.5 million. Convex was founded in 2021 by former members of Dropbox Inc.’s infrastructure […] The post Convex reels in $57M for its…
Developer tooling startup Convex Inc. recently announced the closing of a $57 million funding round led by Insight Partners. This Series B investment brings the company's total outside funding to $110.5 million. Convex, founded in 2021 by former Dropbox infrastructure engineers, offers an application backend that enables developers to create custom software using pre-packaged components.
The company highlights its platform's optimization for AI agents as a key differentiator, as it helps developers mitigate AI-related coding errors, such as type errors. Convex's database stores applications' data and replaces standard SQL queries with TypeScript code to prevent type errors. The platform also reduces the risk of AI hallucinations by implementing ACID practices and automating advanced coding tasks.
Convex's modules include a database, search tool, authentication mechanism, file storage system, and RAG feature that allows AI agents to incorporate custom datasets. The company currently powers nearly 2 million applications, including those of OpenAI Group PBC and Zapier Inc. With the new funding, Convex plans to hire more employees and further enhance its platform.
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