Evolution Equity Partners Invests In Series B Round of Augment Inc. Empowering Software Development Teams With AI

NEW YORK, Nov. 4, 2024 /PRNewswire/ -- Evolution Equity Partners, is pleased to announce its investment in the Series B Round of Augment Inc., a pioneering AI coding assistance startup. Augment Inc. emerged from stealth earlier this year and announced its $227 million Series B round with investments from Sutter Hill Ventures, Index Ventures, Innovation Endeavors, Lightspeed Venture Partners and Meritech Capital. Augment will use the capital infusion to accelerate product development and build out its product, engineering and go-to-market functions as the company gears up for rapid growth.

The company is founded by Igor Ostrovsky, former chief architect at Pure Storage and software engineer at Microsoft, and Guy Gur-Ari, an AI researcher who hails from Google. It is led by industry veterans Scott Dietzen, whose previous leadership experience includes Pure Storage, Yahoo! and WebLogic / BEA Systems. Augment's engineering team boasts deep AI and systems expertise, with alumni from Google, Meta, NVIDIA, Microsoft, Databricks, Snowflake, VMware and Pure Storage.

"We are excited about Evolution Equity Partners' investment in Augment. We value their cybersecurity expertise, especially looking forward to collaborating with Michal Pechoucek, Partner at Evolution and former CTO of cybersecurity giants Gen Digital Inc. and Avast PLC.", said Scott Dietzen, CEO of Augment.

About Augment Inc.

Founded in 2022, Augment Inc. emerged from stealth in 2024 to bring AI coding assistance innovations to developers and software teams. The company is backed by Sutter Hill Ventures, Index Ventures, Lightspeed Venture Partners, Evolution Equity Partners, Innovation Endeavors and Meritech Capital. Augment's expert understanding of each codebase and dependencies removes the toil in developers' workdays, so teams can once again experience the joy of coding.

About Evolution Equity Partners

Evolution Equity Partners, headquartered in New York City, partners with rapidly growing cybersecurity and enterprise software companies that safeguard our digital world. The firm was founded by investor and technology entrepreneurs Richard Seewald and Dennis Smith, who manage and lead the firm, and its partners have been involved as founders, investors and as senior operating executives in leading software companies around the world. Evolution has invested in over fifty cybersecurity and enterprise software companies, building a growing portfolio of market leaders. Learn more at www.evolutionequity.com and follow us on LinkedIn and Twitter.

SOURCE Evolution Equity Partners