Factory, a San Francisco startup founded in 2023 by Matan Grinberg and Eno Reyes, raised $200 million at a $5 billion valuation for its enterprise AI software-development platform. The valuation is more than three times its $1.5 billion level in April, and the company says total funding has surpassed $400 million. Factory plans to use the capital for research and development, product growth and international expansion. Its backers include Blackstone, Khosla Ventures, Sequoia Capital, Insight Partners, Evantic Capital, Sound Ventures, NEA, Mantis VC, Clearlake, Nico Rosberg, Brad Gerstner and Marc Benioff. Factory says hundreds of thousands of developers use its products, including teams at NVIDIA, Blackstone, Royal Bank of Canada, Palo Alto Networks and Adobe.