Another AI coding startup has raised big bucks.
By the pool closed a $500 million Series B led by Bain’s capital ventures. The recent round values the startup at $3 billion, Bloomberg reported.
The round also included investments from several corporate and institutional investors, including: Nvidia, Global summer time, StepStone Group, Citi ventures AND HSBC ventures.
The startup builds artificial intelligence software for developers.
“Only a handful of companies will achieve (artificial general intelligence) – and they are being built right now,” said Poolside CEO Jason Warner In release. “We believe that software development will be the first broad opportunity in which artificial intelligence reaches and exceeds human-level intelligence. With our team, applied research and powerful revenue engine, Poolside will bring artificial intelligence to software development so that anyone in the world can create.”
As of May 2023, the company had raised $626 million.
Great deals
Poolside is just one of a handful of enormous recent deals in the AI coding space.
Based in San Francisco in August Magicwhich also develops artificial intelligence models to write down software, raised $320 million from recent investors, including Eric Schmidt AND Redwood. The announcement got here almost two months later Reuters reported that the company did is in talks with investors to lift a recent $200 million at a valuation of $1.5 billion.
Also in August, an AI-powered coding assistant Codium accomplished a $150 million Series C round led by Generic catalytic converter which values the Mountain View, California-based startup at $1.25 billion. The Codeium platform uses generative AI models trained on public code to provide developers suggestions for building applications, and can support dozens of programming languages.