San Francisco: Mintlify has raised $45 million in a Series B round led by Andreessen Horowitz and Salesforce Ventures, valuing the company at $500 million. Bain Capital Ventures, Y Combinator, DST Global, and HubSpot Ventures also participated. Total funding now stands at $67 million.
The company builds documentation infrastructure for software products. It serves over 20,000 companies including Microsoft, Anthropic, Coinbase, and PayPal. Its platform reaches more than 100 million people per year.
The round is driven by a fundamental shift in who reads documentation. Across Mintlify’s customer base, AI agents now account for 45% of all documentation traffic, nearly level with human browser traffic at 46%. Claude Code alone generated 199 million documentation requests in a single month. That is more than Chrome on Windows.
The implication is significant. When an AI agent needs to understand a product, how it works, how to call its API, what its limits are, it goes to the documentation. Marketing pages are built for human emotion. Docs are built for understanding. In an agent-first world, documentation is no longer content. It is infrastructure.
Mintlify auto-generates llms.txt files and MCP servers for every customer’s documentation. This makes products discoverable and usable by AI agents out of the box. Companies that do not invest in structured, machine-readable documentation risk becoming invisible to the AI tools their customers rely on.
CEO Han Wang framed it directly, the companies that invest in this knowledge layer will compound their advantage as agentic workflows become the default. The ones that do not will struggle to catch up.
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