Snyk founder Guy Podjarny secures a remarkable $125 million in Series A funding for Tessl, an AI software development platform.
- The funding round was led by Index Ventures and previously by boldstart ventures and GV, elevating Tessl’s valuation to $750 million.
- Tessl aims to revolutionise software creation by allowing AI to manage implementation, while developers focus on understanding and design.
- The UK strengthens its position as a hub for tech and AI, according to government support from Peter Kyle, Secretary of State for Science, Innovation, and Technology.
- Tessl is set to bolster its workforce, focusing on AI research and engineering, with plans to launch in early 2025.
The founder of Snyk, Guy Podjarny, successfully raised $125 million in a Series A funding round for his new AI venture, Tessl. With a vision to transform how software is developed, Tessl focuses on enabling AI to handle coding tasks, thereby freeing developers to concentrate on solving customer problems and designing effective systems. This funding was spearheaded by Index Ventures, following a previous seed round managed by boldstart ventures and GV.
As a result of this substantial investment, Tessl has achieved a valuation of $750 million. According to Podjarny, the platform will allow developers to remain in control but free them from the need to write, debug, and maintain every single line of code. “We are creating a new paradigm where humans express what they want to build, and AI handles the implementation,” Podjarny stated.
The UK Government has expressed strong support for the evolving tech landscape. Peter Kyle, Secretary of State for Science, Innovation, and Technology, highlighted that the country is an attractive destination for tech investment, citing Tessl’s recent funding success as evidence. “Investors are going faster and further to support brilliant British AI expertise,” noted Kyle, emphasising the significance of Tessl’s innovations.
With the new investment, Tessl plans to advance its research and enhance its team by hiring experts in AI, engineering, design, and developer relations. Tessl has already opened the waitlist for its platform, with a full launch scheduled for early 2025. Podjarny is eager to attract top-tier AI talent, pointing out that the UK offers a fertile ground for ambitious startups.
Tessl’s significant funding marks a promising step towards reshaping the future of AI-driven software development.
