Boston-based Code Metal just secured $125M Series B at a $1.25B valuation to tackle one of defense's...
The AMW Read
Code Metal's high-valuation round updates the DevTool player map by introducing formal verification as a trust layer for mission-critical legacy code translation in regulated sectors.
Boston-based Code Metal just secured $125M Series B at a $1.25B valuation to tackle one of defense's most critical bottlenecks: translating millions of lines of legacy COBOL, Ada, and Fortran into modern code while mathematically proving accuracy through formal verification. The U.S. military still runs critical systems on code older than most recruits, with 60-70% of software budgets consumed by maintenance rather than innovation. What makes this raise significant is not just the capital but the investor lineup including RTX, signaling that major defense contractors are betting on AI-verified code translation as the path forward. This represents a fundamental shift in how regulated industries approach technical debt, positioning formal verification as the trust layer that makes AI safe for mission-critical applications.
#DefenseTech #AIModernization #CodeTranslation #FormalVerification #VentureCapital
