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SAN FRANCISCO — The AI software development company poolside closed a $500 million funding round.
Poolside raised the Series B financing to continue building its AI foundation models, API and AI assistant to "bring the power" of generative AI to developers, according to the company yesterday.
Poolside's slogan is "the best code you never wrote."
With the funds, the company brought online 10,000 NVIDIA GPUs, and it plans on an "aggressive" go-to-market approach and growing its applied research and engineering organization.
The funding round was led by Bain Capital Ventures with participation from a group of enterprises: NVIDIA, Citi Ventures, Capital One Ventures, HSBC Ventures, LG Technology Ventures and eBay Ventures. Existing investors Felicis Ventures and Redpoint Ventures.
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The round also included several institutional investors: DST Global, StepStone Group, Schroders Capital, Premji Invest, Dorsal Capital, BAM Elevate, Adams Street and Fin Capital.
Previously, Poolside raised $26 million in seed funding and a $100-million Series A round.
"Only a handful of companies will reach AGI – and they are being forged at this very moment," said Jason Warner, CEO, poolside.
"We believe software development will be the first broad capability where AI will reach and surpass human-level intelligence. Through our team, our applied research and a powerful revenue engine, poolside will bring AI for software development so that anyone in the world can build."
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