Factory, the global leader in self-improving software development, announced today that Menlo Ventures has invested in the company, led by Matt Murphy, Managing Partner. Murphy has spent more than two decades investing through major shifts in enterprise technology and has emerged as a leading investor in the AI era.

At the outset of the generative AI transformation, he led Menlo's pre-product investment in Anthropic and has since backed companies reshaping the AI and software development stack. His investment in Factory reflects a shared view of where software development is heading: toward autonomous software engineering that is governable, flexible, and measurable. Factory works with organizations including NVIDIA, Blackstone, Palo Alto Networks, Adyen and EY. The company recently raised a $200 million funding round at a $5 billion valuation and has expanded globally with offices in San Francisco, New York, London and Japan.