poolside, a company focused on developing advanced AI for software development, announced the successful closing of a $500 million Series B financing round. This funding, led by Bain Capital Ventures, attracted notable institutional investors such as DST Global, StepStone Group, and others, along with contributions from enterprises like NVIDIA and Citi Ventures. Established in April 2023 by Jason Warner and Eiso Kant, poolside aims to revolutionize software development through its proprietary foundation model and unique approach called Reinforcement Learning from Code Execution Feedback. The raised capital will facilitate the deployment of 10,000 NVIDIA GPUs, creating one of the world's largest AI training clusters.
poolside's AI solutions are designed to enhance the coding capabilities of developers, with a strong emphasis on privacy and security. The company has been piloting its technology with major enterprises, aiming to empower developers in their day-to-day tasks. According to CEO Jason Warner, poolside believes that software development will be the first area where AI surpasses human-level intelligence, enabling anyone to build software. This funding round will support poolside's ambitious go-to-market strategy and further its applied research and engineering initiatives.
