Buildkite Secures $21M Funding After Revenue Rises 16% in FY25
Synopsis
Buildkite raised $21 million in January 2026 after FY25 cash fell to $10.1 million, while AI coding agent adoption expanded across major developer markets.
Buildkite has raised $21 million through convertible note in January 2026 after the Melbourne-based software company posted a larger loss for FY25 coupled with higher cash outflows.
The funds come after $23.4 million in operating cash outflows, up from $4.9 million raised the previous year.
Revenue grew 16 percent to $43.2 million, while the net loss more than doubled to $28.4 million. Cash on hand declined $33.7 million to $10.1 million.
The employee cost amounted to $39.1 million and the hosting costs were $11.3 million. The accounts give no information about the investor, the pricing terms, the conversion provisions or any other conditions.
After the co-founder and chief executive Keith Pitt left the company in March 2025, the Buildkite funding came in. Five months later, Kevin Gounden was named CEO and co-founder Lachlan Donald returned to the company as chief technology officer.
AI coding drives higher software workloads
The capital is being raised as AI coding agents gain popularity among developers. According to a new developer ecosystem report, JetBrains' Developer Ecosystem Survey 2026, 90% of more than 15,000 professional developers polled were using AI coding agents at their workplaces at least once a week as of May-July 2026. Daily use was at 68%.
There are variations in the usage rate across markets. The percentage of US developers using Claude Code was 47% compared to 39% worldwide. In India, Google Antigravity was used by 15% of developers, while Cursor usage in China dropped from 28% in January to 16% in May-July.
In the job ad in May 2006, Buildkite said workloads had doubled in the past three months. In 2026, as AI agents churned out more software code, customers wanted the capacity to do five to ten times as much work.
Buildkite, founded in 2013, is a software company that builds, tests and releases applications. Previously, the company had raised $21 million series B in 2022, led by AirTree and OneVentures.
The latest round of funding comes as the company announced some management changes last month and posted a significant increase in cash outflows in FY25, as demand for software development infrastructure grew and use of AI-assisted coding rose.
Source: Startup Daily
Pooja Malik is a business journalist with over six years of experience covering startups, entrepreneurship, and emerging trends. She has previously worked with leading media platforms such as YourStory Media and BW BusinessWorld, where she reported on business, policy, and market developments. Currently, she serves as Editor at The Inspirepreneur Magazine, where she writes and edits stories across business, lifestyle, and travel, with a focus on clarity, accuracy, and reader relevance.
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