Menlo Ventures backs Factory in bid to automate the entire software lifecycle
Factory's platform covers planning, code review, testing, security and documentation, areas that Menlo said take up most of an engineer's time. The investment firm said the platform already serves hundreds of thousands of developers at enterprises such as Nvidia and Blackstone.
Menlo Ventures has invested in Factory, a startup developing a platform to automate the entire software development lifecycle. The venture firm announced the funding on Monday, revealing no details on the size of the round, Factory's valuation, or other investors involved. Factory's platform addresses planning, code review, testing, security, and documentation – processes that consume the majority of an engineer's time.
Menlo Ventures highlighted that the platform is currently utilized by hundreds of thousands of developers at major enterprises like Nvidia and Blackstone.
According to Menlo, coding expenses have surged from $550 million to over $30 billion in just two years, but automation remains a crucial aspect. Factory aims to close the loop by offering a unified, governed, model-agnostic platform. Menlo Ventures stated on X that the platform features a shared enterprise knowledge base and guardrails for all agents and users, along with sovereign deployment options.
Customers can select which models run, balancing intelligence requirements and cost considerations. Factory was co-founded by CEO Matan Grinberg, who previously earned a PhD in theoretical physics at UC Berkeley, and CTO Eno Reyes, a former machine learning engineer at Hugging Face.
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