At NGP Capital, we believe in investing in founders who are unleashing the magic of technology. GenAI presents a unique opportunity to create a new category of "system of efficiency" tools, and software engineering, with its unique combination of judgment and rule-based tasks and testable code, is a particularly attractive area for AI to augment productivity. That's why we are excited to announce our investment in Bito.

Building AI Agents for software development

Bito is building a AI-powered platform designed to automate and enhance software workflows through the creation of developer AI agents. The company’s broader vision is to provide a platform that helps teams efficiently ship and assess the quality of the growing volume of AI-generated code — grounded in a deep understanding of an organization’s codebase and artifacts.

Bito currently offers an AI agent hyper specialized for Code Review. Their the agent integrates directly into version control systems such as GitHub, GitLab and Bitbucket and seamlessly fits into a software engineer's core tasks. The code review agent is strategically important for enhancing software quality and team productivity, and requires deeper organizational context. Code review is a critical, often time-consuming process, particularly for senior engineers. Bito's AI Code Review agent analyzes aspects of a pull request like performance, code structure, security, scalability, and optimization. This focus on code review is a crucial step for Bito, as it requires building a precise understanding of code context, essential for their broader AI agent platform vision.

The power of codebase awareness

A core differentiator for Bito is its emphasis on codebase awareness. Their backend utilizes a code context server powered by custom Retrieval Augmented Generation (RAG), symbolic search, and Abstract Syntax Tree (AST) techniques. This sophisticated approach allows the platform to consume and understand data from sources like code repositories, issue trackers, and documentation, providing more precise and relevant assistance compared to models trained solely on limited open-source data.

A veteran team with strong track record

Bito is not just a powerful product, it is also led by an exceptional team. Co-Founders Amar Goel (CEO) and Anand Das (CTO) have a deep history with NGP since our investment in PubMatic, which they took public in 2020. Along with Co-Founder Mukesh Agarwal (CPO), we believe this is the team capable of converting developer-led momentum to an enterprise sales motion. Speaking of developer momentum, Bito’s average DAU/MAU ratio is in the top quartile benchmark for developer tools and it runs 10k+ code reviews a week.

Unlocking enterprise demand for AI Tools

We are at a unique point in the GenAI adoption curve for AI-powered developer tools where enterprises are proactively thinking about budgets. With its focus on deep contextual awareness and enterprise readiness, combined with a platform approach, Bito is well-positioned to capitalize on the demand for tools that deliver quantifiable value and productivity gains. We are excited to support Bito AI as they continue to build out their platform, enhance capabilities, and expand their reach.

If you are building the next generation of AI-powered developer tools, please reach out to me at divya@ngpcap.com. I’d love to hear from you!