Heavybit Announces Its Largest Raise Yet: $180m

Scott McGrew sits down with Tom Drummond, co-founder of developer-first VC firm Heavybit, fresh off the announcement of the firm’s fifth fund and second opportunity fund. Drummond explains why the traditional enterprise sales model is fading, and why developers now hold the keys to software adoption. He talks about resisting the temptation of early revenue, the dangers of “cargo cult” startup thinking, and what it means to build for a future where code is free and infrastructure is everything. As Tom puts it: “We’re entering a world where code is free. Anyone can generate it. The consequence? We’ll need an entirely new layer of infrastructure." Sand Hill Road is produced by Andrew Mendez under the leadership of Sara Bueno and Stephanie Adrouny.

Episode 178 of the Sand Hill Road podcast, hosted by Scott McGrew, Tom Drummond, titled "Heavybit Announces Its Largest Raise Yet: $180m" was published on July 10, 2025 and runs 23 minutes.

July 10, 2025 ·23m · Sand Hill Road

Summary

Scott McGrew sits down with Tom Drummond, co-founder of developer-first VC firm Heavybit, fresh off the announcement of the firm’s fifth fund and second opportunity fund. Drummond explains why the traditional enterprise sales model is fading, and why developers now hold the keys to software adoption. He talks about resisting the temptation of early revenue, the dangers of “cargo cult” startup thinking, and what it means to build for a future where code is free and infrastructure is everything. As Tom puts it: “We’re entering a world where code is free. Anyone can generate it. The consequence? We’ll need an entirely new layer of infrastructure." Sand Hill Road is produced by Andrew Mendez under the leadership of Sara Bueno and Stephanie Adrouny.

Episode Description