Poolside, a San Francisco-based company focused on creating advanced AI solutions for software development, has closed a $500 million Series B funding round.
Investors
The round was led by Bain Capital Ventures, with participation from institutional investors such as DST Global, StepStone Group, Schroders Capital, Premji Invest, Dorsal Capital, BAM Elevate, Adams Street, and Fin Capital.
The round closed this month with involvement from a selection of enterprises, including NVIDIA, Citi Ventures, Capital One Ventures, HSBC Ventures, LG Technology Ventures, and eBay Ventures. Existing investors Felicis Ventures and Redpoint Ventures, who led the company's Series A ($100M) and Seed ($26M) rounds respectively, also participated.
Founded in 1984, Bain Capital Ventures is a venture capital firm based in San Francisco, California. The firm invests in B2B software startups from seed to growth stages across its four domains: Fintech, Commerce, Apps, and Infra. Over the past 20 years, with more than $10 billion under management, BCV has helped launch and commercialize over 400 companies.
Poolside Use of Funds
With the newly raised capital, Poolside plans to expand its team and accelerate its go-to-market strategy.
About Poolside
Founded in April 2023 by Jason Warner and Eiso Kant, Poolside is developing a full-stack solution that includes a proprietary foundation model for software development. Its first product will deliver an intelligent code assistant powered by Poolside's models to accelerate the speed and capability of developers. Poolside’s foundational model—built from the ground up—provides companies with a private, secure solution that can be tailored to their specific environments and continuously learns from usage and interactions.
Funding Details
Company: Poolside, Inc.
Raised: $500.0M
Round: Series B
Funding Date: October 2024
Lead Investor: Bain Capital Ventures
Additional Investors: DST Global, StepStone Group, Schroders Capital, Premji Invest, Dorsal Capital, BAM Elevate, Adams Street, Fin Capital, NVIDIA, Citi Ventures, Capital One Ventures, HSBC Ventures, LG Technology Ventures, eBay Ventures, Felicis Ventures, Redpoint Ventures
Company Website: https://poolside.ai/
Software Category: Software Development
Source: https://www.prweb.com/releases/poolside-closes-500-million-series-b-to-build-the-worlds-most-capable-ai-for-software-development-302265263.html