Eric Schmidt-backed Augment emerges from stealth with $252M in funding, poised to rival GitHub Copilot

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AI is supercharging coding, and developers are embracing it at an unprecedented rate. According to a recent StackOverflow poll, 44% of software engineers are already using AI tools in their development processes, with an additional 26% planning to do so soon. This trend is only expected to grow, with Gartner estimating that 75% of developers will be using coding assistants in some form by 2028.

One developer leading the charge is Igor Ostrovsky, a former Microsoft software developer who believes that AI can revolutionize the software engineering industry. He recently launched Augment, an AI-powered coding platform that aims to improve software quality, team productivity, and overall programming experience.

Augment has already secured an impressive $252 million in funding, with investments from industry heavyweights like former Google CEO Eric Schmidt. The platform is set to disrupt the market for generative AI coding technologies and provide developers with a powerful tool to streamline their workflows.

While the AI coding assistant market is becoming increasingly crowded, with offerings from tech giants like Microsoft, Amazon, and Google, Ostrovsky is confident in Augment’s ability to stand out. The platform’s focus on empowering programmers and delivering high-quality software quickly sets it apart from the competition.

Despite the challenges facing the AI coding assistant industry, including concerns around security, copyright, and sustainability, Ostrovsky remains optimistic about Augment’s future. With a team of experts in AI and systems engineering, Augment is poised to bring innovative AI coding assistance to developers and software teams.

Based in Palo Alto, Augment currently has around 50 employees, with plans to double that number by the end of the year. As the demand for AI-powered coding tools continues to grow, Augment is well-positioned to make a significant impact on the software development industry.

Team@GQN.