CODE METAL RAISES $125M FOR AI-POWERED DEFENSE SOFTWARE MODERNIZATION
Boston-based Code Metal closed a $125 million Series B funding round to expand its AI platform for translating and verifying legacy software used by defense contractors, the startup announced Wednesday.
The funding, from new and existing investors, comes months after Code Metal raised $36 million in Series A financing led by Accel. The startup, founded in 2023, uses AI to write code and translate it across programming languages while addressing a persistent industry concern: whether AI-generated code is reliable enough for mission-critical systems.
For finance leaders at defense contractors and their supply chain partners, the implications are significant. Legacy software modernization has long been a capital-intensive, time-consuming burden. If Code Metal's verification methodology proves effective, it could reshape how companies budget for technical debt remediation—though the startup's approach remains largely unproven at scale.
Code Metal is one of several startups—including Antithesis, Code Rabbit, and Harness—securing venture backing to automate code validation and testing. Investors are betting that at least some of these "picks and shovels" plays will become essential infrastructure for the AI-assisted development wave.
Watch for Code Metal's first major defense contractor deployments and any public validation of their verification claims.
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