Breaking
Code Metal closes $125M Series B at $1.25B valuation led by Salesforce Ventures • Peter Morales: "Speed without proof is not enough" • Customers include U.S. Air Force, L3Harris, Raytheon, Toshiba, Bosch • Ryan Aytay (ex-Tableau CEO) joins as President & COO • Code Metal: AI that writes verified code for drones, FPGAs, and edge hardware • Total funding: $177.65M across pre-seed, seed, Series A, Series B • Code Metal closes $125M Series B at $1.25B valuation led by Salesforce Ventures • Peter Morales: "Speed without proof is not enough" • Customers include U.S. Air Force, L3Harris, Raytheon, Toshiba, Bosch • Ryan Aytay (ex-Tableau CEO) joins as President & COO • Code Metal: AI that writes verified code for drones, FPGAs, and edge hardware • Total funding: $177.65M across pre-seed, seed, Series A, Series B •
Peter Morales and Code Metal co-founders
Profile — Founder • CEO • Engineer

Peter
Morales

The man who taught machines to write verified code for machines — and built a billion-dollar company doing it.

MIT Lincoln Lab. Microsoft HoloLens. BAE Systems and the F-35. Then one problem that wouldn't let go: AI-generated code that nobody could trust. So he built Code Metal to fix it.

CEO & Co-Founder Code Metal $1.25B Unicorn Defense AI Edge Computing

There is a moment in every engineer's career when a problem becomes personal. For Peter Morales, it happened at BAE Systems, somewhere in the gap between Python code written by AI and the F-35 jet that was supposed to run it. The math didn't add up. The radar-countering ML algorithm worked on the laptop. On the aircraft, you couldn't be sure — and in defense, being unsure is not an option. Morales spent his days optimizing that code by hand, coaxing high-level software into hardware-grade correctness. He noticed: this is everywhere, and nobody is fixing it.

That recognition didn't lead directly to a startup. First came MIT Lincoln Laboratory, where Morales built AI systems for counter-drone defense — including technology designed to protect the U.S. Capitol. Then Microsoft, where he helped build computer vision for the HoloLens augmented reality headset. Same underlying problem in a different costume: making AI work reliably on constrained hardware, in real-world conditions, where failure isn't abstract. He collected the problem like others collect receipts.

He took one detour. Mint State Labs, a web3 creator-tools company, was his pivot into entrepreneurship. TechStars. Protocol Labs money. An acquisition by Orange Comet in December 2022, after which Morales served as CTO. The web3 wave crested and receded. But the founder toolkit — how to raise, how to build a team, how to sell something that doesn't exist yet — came back to Boston with him.

In 2023, Morales co-founded Code Metal with Alex Showalter-Bucher (another MIT Lincoln Lab veteran) and Octavian Udrea, a chief scientist with 20-plus years in AI research and 70-plus peer-reviewed papers. The founding insight: AI can write code faster than any human, but in regulated, mission-critical industries — defense, automotive, semiconductors, factory robotics — speed is worthless without proof. Code Metal combines large language models with neuro-symbolic AI to mathematically verify that translated code is correct before it ships. Write once in Python or MATLAB. Deploy anywhere: CPU, GPU, FPGA, drone, autonomous vehicle. And prove it works.

AI can generate code at unprecedented speed, but in mission-critical environments, speed without proof is not enough.
- Peter Morales, CEO, Code Metal

The market validated the idea fast. A $3.45M pre-seed from J2 Ventures in 2023. A $13M seed led by Shield Capital in 2024, when Code Metal launched publicly. By November 2025, Accel — the firm that backed Facebook, Dropbox, and Atlassian — led a $36.5M Series A at a $250M valuation, with RTX Ventures and Bosch Ventures co-investing. The customers weren't just names on a press release: the U.S. Air Force, L3Harris, Raytheon, Toshiba, Bosch, and Boeing were writing real contracts worth tens of millions.

Then February 2026: $125M Series B led by Salesforce Ventures. Valuation: $1.25 billion. Total funding: $177.65M in under three years from founding. Morales went from engineer debugging F-35 code by hand to CEO of an AI unicorn that automates exactly that process at scale. The former CEO of Tableau, Ryan Aytay, joined as President and COO.

Morales is deliberately uninterested in vibe coding — the AI-assisted coding that generates a starting point quickly. "Vibe coding is all about explaining an initial idea in text, and generating code that will get you started developing your minimum viable product," he said. "This is not where most companies spend their time." Code Metal's target is the 90 percent of software work that happens after the prototype: bringing code to production, across hardware platforms, with correctness guarantees that satisfy military contracts and automotive safety standards. That's not a consumer feature. It's infrastructure.

The company's name says it all. Code Metal: taking high-level logic all the way to bare metal hardware. Morales didn't invent the problem. He just spent enough years inside it to understand exactly what the solution required — and built a team that could build it.

From $3.45M to Unicorn in 36 Months


Pre-Seed • 2023
$3.45M
Led by J2 Ventures
Seed • 2024
$13M
Led by Shield Capital
Series A • Nov 2025
$36.5M
Led by Accel • $250M val.
Series B • Feb 2026
$125M
Led by Salesforce Ventures
2026 Valuation
$1.25B
Code Metal achieved unicorn status in February 2026, three years after founding — backed by Salesforce Ventures, Accel, B Capital, RTX, Bosch Ventures, and a roster of defense-tech specialists. Revenue already in eight-figure territory.

Defense, Automotive, and Semiconductors


Code Metal's customer list is a shortlist of industries where software errors don't fail gracefully. The U.S. Air Force does not ship code that "probably works." Neither do Raytheon, L3Harris, or Toshiba. These are the contracts Morales landed before his Series A — and they're the reason Salesforce Ventures wrote a $125M check.

U.S. Air Force L3Harris Raytheon (RTX) Toshiba Bosch NVIDIA Boeing Automotive Suppliers Consumer Electronics

A Career Spent at the Edge of What's Possible


Early Career
BAE Systems — Senior Research Engineer. Tasked with optimizing ML algorithms for the F-35 jet to counter enemy radar. The experience of coaxing AI code into hardware-grade correctness became the founding insight for Code Metal.
Microsoft
Mixed Reality Engineer. Built computer vision programs for the HoloLens augmented reality headset — AI running on constrained hardware, reliably, in the real world. The problem repeats.
MIT Lincoln Laboratory
AI Researcher. Worked on AI systems for national defense including technology designed to counter drone attacks against the U.S. Capitol. A decade-plus of defense AI credibility built here.
2021-2022
Founded Mint State Labs. Web3 creator-tools startup. First TechStars web3 cohort, backed by Protocol Labs. Acquired by Orange Comet in December 2022 — Morales becomes CTO. The entrepreneurship detour that gave him the founder toolkit.
2023
Co-founded Code Metal with Alex Showalter-Bucher (MIT Lincoln Lab) and Octavian Udrea (IBM Research AI). Pre-seed: $3.45M from J2 Ventures.
July 2024
Code Metal launches publicly with $16.5M seed funding led by Shield Capital. First major press coverage. Contracts with defense and industrial clients already signed.
November 2025
Series A: $36.5M led by Accel at $250M valuation. RTX Ventures, Bosch Ventures, Smith Point Capital co-invest. CNBC covers the round. Revenue in eight-figure territory.
February 2026
Series B: $125M — Unicorn status. Led by Salesforce Ventures at $1.25B valuation. Ryan Aytay (ex-Tableau CEO) joins as President & COO. Total raised: $177.65M.

What Peter Morales Says


"AI can generate code at unprecedented speed, but in mission-critical environments, speed without proof is not enough."
On verifiable AI code — Code Metal Series B announcement
"We are building the infrastructure that ensures software can be trusted before deployment."
On Code Metal's mission — Series B press release, 2026
"Vibe coding is all about explaining an initial idea in text, and generating code that will get you started developing your minimum viable product. This is not where most companies spend their time."
On distinguishing Code Metal from vibe-coding tools — CNBC interview, 2025
"That requires strong guarantees the code we're converting is accurate, compliant and working as expected."
On production-grade AI code — TechInvestorNews interview, 2025

What He's Built


Things Worth Knowing


The LinkedIn Line

His LinkedIn tagline: "AI, RL, Defense | x-MSFT, x-MIT, TechStars." Seven words. Four entire careers. Maximum signal, zero fluff.

The Math Behind the Magic

Code Metal uses neuro-symbolic AI — combining neural networks with formal logic — so the system can mathematically prove its own output is correct. It's not just AI writing code; it's AI proving the code it wrote.

The Web3 Detour

Before defense AI unicorns, Morales built creator tools for NFT economies at Mint State Labs. The arc — defense AI to web3 to defense AI — is rare enough to be a conversation piece at any VC dinner.

Factory Robots and Fighter Jets

Bosch and the U.S. Air Force are on the same customer list. Code Metal translates code for industrial robots on factory floors and for systems that help jets evade enemy radar — on the same platform.

What the Name Means

"Code Metal" reflects the core mission: taking high-level code all the way down to bare metal hardware. It's not a metaphor. It's a specification.

The 50-75% Number

Code Metal claims to cut development time by 50-75% for edge deployments. In defense and automotive, where a single software project can take years, that's not a productivity gain — it's a competitive moat.

The Academic Foundation


Physics

Florida State University

Bachelor of Science in Physics — a hard-science foundation that shows up in Code Metal's formal verification approach.

Engineering

Worcester Polytechnic Institute

Electrical & Computer Engineering — WPI's hands-on project-based curriculum built the hardware instincts Code Metal runs on.

Research

MIT Advanced Study Program

Continued graduate-level study at MIT, deepening ties to the Lincoln Laboratory ecosystem where some of Code Metal's co-founders would later originate.

What Code Metal Actually Does


Verifiable Code Translation

Translates high-level code (Python, Julia, MATLAB) into production-ready, hardware-optimized code — then mathematically proves the translation is correct using formal methods.

Edge Deployment

Targets CPUs, GPUs, FPGAs, drones, robots, autonomous vehicles. Write once, verify once, deploy anywhere. Reduces edge deployment time by 50-75%.

Neuro-Symbolic AI

Combines large language models with traditional compiler technology and formal methods. The result: AI-generated code with mathematical correctness guarantees — not just plausible output.

Verifiable AI Neuro-Symbolic AI Formal Methods LLMs Compilers FPGA Edge AI Python MATLAB Julia NVIDIA A100 Reinforcement Learning PyTorch Kubernetes Xilinx Vivado Intel Quartus

Peter Morales in Conversation


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