According to ChainCatcher, people familiar with the matter revealed that Poolside, a startup developing artificial intelligence writing software, is negotiating a new round of financing, which will give it a valuation of US$3 billion before the release of its initial product.
The company is raising nearly $500 million, people familiar with the matter said. Poolside’s existing investor Bain Capital Ventures is in talks to lead the round. Poolside and Bain Capital Ventures declined to comment.
Poolside was founded in early 2023 by former GitHub CTO Jason Warner and software entrepreneur Eiso Kant. The startup moved to France last year after raising $126 million in seed funding. In addition, two other Paris startups, Mistral AI and H, have also received significant funding to create generative AI models.
