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§ Private Profile · Boston, MA, USA
AI-powered source-to-source code translation software for B2B enterprise customers in regulated industries, ensuring zero-error production code.
Based in Boston, Massachusetts, United States, Code Metal develops AI-powered source-to-source translation software that automatically converts code between different programming languages for deployment across diverse hardware environments. The enterprise platform enables software teams to modernize legacy systems and generate zero-error production code for mission-critical applications. The company primarily serves enterprise customers operating in highly regulated sectors, securing major software contracts across the defense, automotive, semiconductor, healthcare, and finance industries. Code Metal secured a $36.5 million Series A funding round led by venture capital firm Accel, which initially valued the enterprise at $250 million. Driven by expanding defense contracts and tens of millions in contracted revenue, the business subsequently achieved unicorn status with a valuation exceeding $1 billion by early 2026. Code Metal was founded in 2023 by co-founders Peter Morales and Richard Showalter-Bucher.
Code Metal has raised $175.0M across 3 funding rounds.
Code Metal has raised $175.0M in total across 3 funding rounds.
Code Metal has raised $175.0M in total across 3 funding rounds.
Code Metal's investors include Robert Keith, Accel, Yan-David Erlich, J2 Ventures, Overmatch Ventures, RTX Ventures, Shield Capital, Smith Point Capital, Steve Loughlin, Bain Capital Ventures, Lightspeed Venture Partners, Pareto Holdings.
Code Metal has raised $175.0M across 3 funding rounds. Most recently, it raised $125.0M Series B in February 2026.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Feb 19, 2026 | $125M Series B | Robert Keith | Accel, YAN David Erlich, J2 Ventures, Overmatch Ventures, RTX Ventures, Shield Capital, Smith Point Capital | Announced |
| Nov 1, 2025 | $37M Series A | Steve Loughlin | Bain Capital Ventures, J2 Ventures, Lightspeed Venture Partners, Pareto Holdings, Pillar VC, Chris Heinz, John Tenet, Kendall Collins, Paul Schimmel, Robert Cohn, AE Ventures, Fulcrum Venture Capital, Overmatch Ventures, Adam Jackson, RTX Ventures, Michael Brown, Smith Point Capital | Announced |
| Jul 23, 2024 | $13M Seed | Michael Brown, Shield Capital | Christopher Hartnoll | Announced |
Code Metal is a Boston-based AI startup founded in 2023 that builds verifiable, AI-powered code translation tools, primarily Metal Logic, enabling developers to write code once in a high-level language like Python and automatically translate it into optimized, low-level code for diverse hardware, especially edge environments.[1][3][4][7] It serves technology firms, defense contractors (e.g., L3Harris, Raytheon, U.S. Air Force), automotive suppliers, consumer electronics brands, and enterprises like Microsoft and Nvidia, solving the problem of code portability, modernization, and deployment across chips for applications in robotics, drones, national security, and embedded systems.[2][3][4] The company demonstrates strong growth momentum, securing tens of millions in contracts, a $13M seed round in 2023 led by Shield Capital (plus pre-seed from J2 Ventures), and a $36M funding round in 2025 led by Accel with participation from Bosch Ventures and RTX Ventures, positioning it as one of Accel's fastest-growing early-stage investments.[3][4]
Code Metal was co-founded in 2023 by Peter Morales (CEO, former tech chief at a gaming company, MIT Lincoln Lab engineer on drone defense AI and Microsoft HoloLens computer vision) and Alex Showalter-Bucher, both MIT Lincoln Lab alumni who identified the need for efficient code translation while developing machine-learning algorithms for real-time hardware deployment.[3][4] The idea emerged from Morales' experiences porting research algorithms to edge devices, where manual translation delayed projects by months or years; they leveraged LLMs combined with formal methods for verifiable results.[3][4] Early traction came swiftly with pre-seed funding of ~$3.5M from J2 Ventures and Fulcrum Venture Group, followed by a $13M seed from Shield Capital, enabling hybrid operations from Boston (HQ at 12 Channel Street) with teams in San Francisco and New York, growing from 7 to ~30 employees.[4] Pivotal moments include multi-million-dollar contracts with defense and commercial clients, and the 2025 $36M raise amid surging demand for edge AI.[3]
Code Metal rides the edge AI and reindustrialization wave, where exploding demand for AI on resource-constrained devices (robotics, autos, defense, IoT) meets fragmented hardware ecosystems, amplified by U.S. manufacturing resurgence and national security priorities.[1][2][3] Timing is ideal post-2023 AI boom, as LLMs enable automation but lack guarantees for production—Code Metal's formal verification fills this gap, reducing porting times from years to days amid a "practically uncapped" market for edge development.[3][4] Favorable forces include surging edge computing (e.g., via Nvidia, Bosch), defense spending (AFWERX, Raytheon), and legacy code modernization needs; it influences the ecosystem by enabling faster innovation for startups and incumbents, bridging research-to-deployment chasms like competitors (Latent AI, Cerebras) but with superior portability.[1][3]
Code Metal is primed for hypergrowth, with recent leadership hires like SVP of Growth Laura Shen signaling global expansion into AI-driven reindustrialization across autos, robotics, and beyond.[1] Trends like multimodal AI, sovereign edge compute, and verifiable automation will propel it, potentially capturing share from manual engineering in a $100B+ DevOps/edge market. Its influence may evolve from niche defense specialist to platform leader, powering the next wave of hardware-software convergence—echoing its core mission to accelerate critical industries with provably correct AI, much like its founders bridged lab ideas to real-world impact.[3][4][7]