# Code Metal funding: rounds and investors > Code Metal has raised $161M across 2 rounds since 2025. Investors include Salesforce Ventures, Accel and B Capital. Every round with its source. Source: https://millionrounds.com/company/code-metal (Millionrounds; every figure on the page links to its filing or article) United States · [Series B startup](https://millionrounds.com/companies) # Who invested in *Code Metal* 2 rounds we have observed, with the 10 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it. AI Defence Tech Software Raised 9 months ago Follow Code Metal and see its new rounds in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Fcompany%2Fcode-metal) Funding summary Updated 5 Nov 2026 **$161M** raised across 2 rounds since 2025, from 2 sources **$36M** Round **$125M** Series B - **Latest round:** Series B, $125M Feb 2026 - **Led by:** Salesforce Ventures - **Step-up i:** 3.4× - **Investors:** 10 (1 led) See who backed them ## The funding story Each circle is a round, placed by date and sized by amount. The line above is the running total. 2026 **$36M** Round **$125M** Series B - **First round:** Round, $36M - **Biggest round:** $125M - **Between rounds:** 3 months ## The rounds - **Feb 2026** Series B **$125M** *10 new* [Salesforce Ventures](https://millionrounds.com/fund/salesforce-ventures) Lead [Accel](https://millionrounds.com/fund/accel) [B Capital](https://millionrounds.com/fund/b-capital) [LD Capital](https://millionrounds.com/fund/xie) [Bosch Ventures](https://millionrounds.com/fund/bosch-ventures) [Shield Capital](https://millionrounds.com/fund/shield-capital) [J2 Ventures](https://millionrounds.com/fund/j2-ventures) [Overmatch](https://millionrounds.com/fund/overmatch) [Smith Point Capital](https://millionrounds.com/fund/smith-point-capital) [RTX](https://millionrounds.com/fund/rtx) Reported by Ventureburn SEC filing: $123M sold, first sale Mar 2026 - **Nov 2025** Round **$36M** No investor was named in the report. Filed with the SEC (Form D); no report of this raise yet SEC filing: $36M sold, first sale Nov 2025 ## Funding filed with regulators Code Metal filed 5 raises, $182M in all. Filings say how much was sold and to how many investors; they never name the investors. - Mar 2026 **$123M** 12 investors of $125M offered SEC Form D - Nov 2025 **$36M** 15 investors of $37M offered SEC Form D - Jun 2025 **$6.5M** 4 investors SEC Form D - Jul 2024 **$13M** 6 investors of $16M offered SEC Form D - Dec 2023 **$3.1M** 4 investors equity of $3.5M offered SEC Form D ## Founders and team From Code Metal's own website: 2 founders, 4 on the team. **Octavian Udrea** Co-Founder & CEO **Laura Shen** Co-Founder & SVP of Technology - **Peter Morales** President & COO - **Alex Showalter-Bucher** Chief Scientist - **Jennifer Paau** Chief Scientist - **Ryan Aytay** EVP & Head of Growth ## Who was in which round The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led. **Round** 2025 **Series B** 2026 [Salesforce Ventures](https://millionrounds.com/fund/salesforce-ventures) L [Accel](https://millionrounds.com/fund/accel) [B Capital](https://millionrounds.com/fund/b-capital) [LD Capital](https://millionrounds.com/fund/xie) [Bosch Ventures](https://millionrounds.com/fund/bosch-ventures) [Shield Capital](https://millionrounds.com/fund/shield-capital) [J2 Ventures](https://millionrounds.com/fund/j2-ventures) [Overmatch](https://millionrounds.com/fund/overmatch) [Smith Point Capital](https://millionrounds.com/fund/smith-point-capital) [RTX](https://millionrounds.com/fund/rtx) ## Everyone who backed them [Salesforce Ventures](https://millionrounds.com/fund/salesforce-ventures) Corporate VC **1** round, led 1 [Accel](https://millionrounds.com/fund/accel) VC firm **1** round [B Capital](https://millionrounds.com/fund/b-capital) VC firm **1** round [LD Capital](https://millionrounds.com/fund/xie) VC firm **1** round [Bosch Ventures](https://millionrounds.com/fund/bosch-ventures) Corporate VC **1** round [Shield Capital](https://millionrounds.com/fund/shield-capital) VC firm **1** round [J2 Ventures](https://millionrounds.com/fund/j2-ventures) VC firm **1** round [Overmatch](https://millionrounds.com/fund/overmatch) VC firm **1** round [Smith Point Capital](https://millionrounds.com/fund/smith-point-capital) VC firm **1** round [RTX](https://millionrounds.com/fund/rtx) Growth equity **1** round Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=code-metal). ## Also claim to have backed them This firm lists Code Metal as a portfolio company on their own website, but no report of a round names it. They are the firms' own claims, kept apart from the rounds above. [Fulcrum Venture Group](https://millionrounds.com/fund/fulcrum-venture-group) VC firm Per its own site ## Quick answers about Code Metal ### Who invested in Code Metal? Code Metal's investors include Salesforce Ventures, Accel, B Capital, LD Capital and Bosch Ventures, and 5 more on record. Salesforce Ventures led its latest round. ### How much has Code Metal raised? Code Metal has raised $161M across 2 rounds since 2025. ### When did Code Metal last raise? Code Metal's most recent round was a Series B of $125M in Feb 2026, led by Salesforce Ventures. ### What was Code Metal's biggest round? Its most recent round, $125M in Feb 2026, is also its largest on record. ### Who backed Code Metal first? Code Metal's first round on record, in Feb 2026, was backed by Salesforce Ventures, Accel and B Capital and 7 others. ### What stage is Code Metal at? Code Metal's latest named round is a Series B, in Feb 2026. ### Where is Code Metal based? Code Metal is based in the United States. ### Who led Code Metal's rounds? Salesforce Ventures led the Series B in 2026. ## Companies like Code Metal In the same sector, and raised in the last eighteen months. [**Journify** $12M · Nov 2026](https://millionrounds.com/company/journify)[**Nooks** $543M · Nov 2026](https://millionrounds.com/company/nooks)[**Laza Medical** $160M · Nov 2026](https://millionrounds.com/company/laza-medical)[**e2e** $8.0M · Nov 2026](https://millionrounds.com/company/e2e)[**Guava** $13M · Nov 2026](https://millionrounds.com/company/guava)[**Applied Compute** $580M · Nov 2026](https://millionrounds.com/company/applied-compute) ## Find investors like these Search every investor by what they have actually funded, then narrow to your stage and market. Free. Open the investor searchOr these rounds in the app