Poolside, an AI-powered software development platform founded in April 2023 by Jason Warner and Eiso Kant, is focused on creating artificial intelligence software to enhance programming.

The company aims to achieve Artificial General Intelligence (AGI) through its innovative software development efforts.

Currently, Poolside is developing a Generative AI model designed to assist developers in writing code, with plans to launch an intelligent coding assistant soon.

Recently, Poolside raised $500 million in a Series B funding round led by Bain Capital Ventures, bringing its total funding to $626 million and valuing the company at approximately $3 billion.

This significant funding will enable Poolside to expand its research and engineering teams and implement an aggressive go-to-market strategy.

Despite not having released a product yet, the company's valuation has surged to $3 billion, as confirmed by the company and reported by Bloomberg.

Margarida Garcia, Poolside's Vice President of Operations, stated that after a year of development, the company is ready to bring its technology to market.

Poolside is currently testing its technology with large enterprises in demanding environments, including major banks and defense sector companies in Europe and North America.

The AI coding sector is experiencing a surge in investment, with competitors like Codeium and Magic also securing substantial funding recently.

The market for AI coding tools is projected to grow significantly, potentially reaching $27 billion by 2032, indicating a highly competitive landscape.

With a strong team that includes experienced co-founders, Poolside is poised to make a significant impact in the AI coding space.

Warner emphasized the company's vision to democratize AI access for software development, believing that AI will soon surpass human-level intelligence in this field.