AI startup Poolside has raised a whopping $500mn and it still hasnt even launcheda product.
Despite the barren release schedule, the company has become an investors darling.
The new Series B round brings Poolsides total funding to$626mn.
Its valuation now stands ata cool$3bn.
The cash magnet is a AI-powered coding.
Poolside has developed its own language model, which promises to accelerate software development.
The company also boasts two eye-catching co-founders.
CEO Jason Warner helped create GitHub Copilot, while CTO Eiso Kant is a serial founder of AI startups.
It’s free, every week, in your inbox.
According to Warner and Kant, the tech is currently undergoing pressure-testing in the toughest office environments.
The enterprise is the proving ground, they said ina blogpost.
Poolside is not the the only company with this objective.
The emerging rivals are attracting major capital.
Replit, Augment, Supermaven, Cognition have alsorecently receivedbig cash injections.
Poolsides Series A adds another eye-watering sum to the sector.
The round was led by Bain Capital Ventures,Bloomberg reports.
Additional funds came from HSBC Ventures, DST Global, StepStone Group, and Citi Ventures.
you could learn more about Poolside first-hand atVDS, one of Europes premiere tech events.
TNW is a strategic partner at the event.
This was based on reports that the company had relocated to Paris.
Poolside has now confirmed that it remains headquartered in San Francisco.
Story byThomas Macaulay
Thomas is the managing editor of TNW.
He leads our coverage of European tech and oversees our talented team of writers.
Away from work, he e(show all)Thomas is the managing editor of TNW.
He leads our coverage of European tech and oversees our talented team of writers.
Away from work, he enjoys playing chess (badly) and the guitar (even worse).
