Factory, which builds AI coding agents for enterprise engineering teams, raised $150 million at a $1.5 billion valuation in a round led by Khosla Ventures with Sequoia Capital, Insight Partners, and Blackstone participating. The platform routes tasks across multiple foundation models—Claude, DeepSeek, and others—depending on the workload, and targets the full software development lifecycle including testing, review, documentation, and deployment. Customers include engineering teams at Morgan Stanley, Ernst & Young, and Palo Alto Networks.