AI-powered coding platform Poolside has secured $500 million in a Series B funding round led by Bain Capital Ventures. Major players like Nvidia and eBay participated in the round, alongside investors such as LG Technology Ventures, Felicis Ventures, Redpoint Ventures, Citi Ventures, Capital One Ventures, HSBC Ventures, DST Global, StepStone Group, Schroders Capital, Premji Invest, Dorsal Capital, BAM Elevate, Adams Street, and Fin Capital.
With this latest round, Poolside’s total funding now stands at $626 million, boosting its valuation to $3 billion.
Based in the U.S. and Europe, Poolside offers AI-powered tools that assist developers with coding. The platform provides features like code auto-completion and relevant code suggestions tailored to specific codebases, helping developers streamline their workflow.
Poolside was founded last year by Jason Warner, former CTO of GitHub and co-creator of GitHub Copilot, along with Eiso Kant, co-founder of Athenian. The duo has been working together since 2017, and they combined their software tools under one roof to create Poolside.
The company has developed its own AI models to assist developers and plans to use the new funding to advance its R&D efforts and expand its market presence.
In a blog post, co-founders Warner and Kant stated, “Today, our first customers and partners are putting our product through rigorous tests in the most demanding environments: enterprises with the highest standards of privacy and security, those with thousands or even tens of thousands of developers, and companies operating in highly complex data environments where the stakes of trying new tools are incredibly high.”
Looking ahead, Warner and Kant predict that within the next decade, complex software could be built without the need for everyone to know how to code. They added, “The ability to see a problem and build technology to solve it is a superpower we want to give to everyone. The task is big. The approach is difficult. It will be expensive. But it will be worth it.”
Leave a Reply