Code Metal Hits Unicorn Status With $125M for AI Code Translation
Boston startup translating legacy code for defense contractors raises $125M Series B at $1.25B valuation.
Code Metal just crossed the unicorn threshold. The Boston-based startup pulled in a $125M Series B led by Salesforce Ventures, pushing its valuation to $1.25B.
The company's pitch: use AI to translate ancient legacy codebases into modern programming languages. Think dusty COBOL and Fortran getting a fresh coat of paint — but with a twist. Code Metal doesn't just convert. It verifies the output, arguing that modernization is worthless if it introduces new bugs.
The primary customer base? Defense contractors. That's a sector drowning in decades-old software that still runs critical systems. Ripping and replacing isn't an option when lives are on the line.
Salesforce Ventures leading the round signals enterprise confidence in AI-powered developer tooling. For Code Metal, the real test is proving automated translation holds up where failure isn't an option.