AI company Poolside is seeking nearly $500 million in funding at a valuation of $3 billion

2024-09-13 09:22:29

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ChainCatcher news reports that sources say the startup Poolside, which develops artificial intelligence for software writing, is in talks for a new round of financing that would give it a valuation of $3 billion before the release of its initial product.

According to sources, the company is looking to raise nearly $500 million. Poolside's existing investor Bain Capital Ventures is negotiating to lead this round of investment. Neither Poolside nor Bain Capital Ventures has commented.

Poolside was founded in early 2023 by former GitHub CTO Jason Warner and software entrepreneur Eiso Kant. After raising $126 million in seed funding, the startup moved to France last year. Additionally, two other Paris-based startups, Mistral AI and H, have also secured significant funding to create generative AI models.

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