Guy Podjarny, founder of Snyk, has raised $125 million for a new AI platform called Tessl.
- With the funding, Tessl’s valuation has surged to $750 million, signalling robust investor confidence.
- Index Ventures led the funding round, following a seed investment by boldstart ventures and GV.
- Podjarny envisions a shift where AI supports developers by handling code implementation.
- Tessl aims to launch in early 2025, with a focus on building an elite AI team.
Guy Podjarny, renowned for founding the cybersecurity firm Snyk, which achieved a valuation of $7 billion in 2022, has recently raised $125 million towards his new venture, Tessl. Tessl, based in London, represents a bold rethinking of software creation, with a mission to integrate AI into the core of the development process.
The substantial investment, which has propelled Tessl’s valuation to an impressive $750 million, showcases significant confidence from investors such as Index Ventures, who led the recent round. This follows an earlier seed round where boldstart ventures and GV contributed $25 million, underscoring the strong belief in Tessl’s potential to revolutionise the AI development landscape.
Tessl plans to alleviate the coding burden on developers by enabling AI to manage the intricacies of code writing, debugging, and maintenance. According to Podjarny, the vision is to allow developers to focus on the broader aspects of software creation, such as understanding user requirements and system design. “We’re creating a new paradigm where humans express what they want to build, and AI handles the implementation,” he stated, highlighting the ambition to enhance software development through innovative AI applications.
The strategic direction for Tessl involves not only technological advancement but also talent acquisition. The company has opened a waitlist for its platform, set for an early 2025 launch, and aims to recruit top-tier talent in AI research, engineering, product design, and developer relations to strengthen its team. Podjarny believes that the UK provides an ideal ecosystem for startups focused on cutting-edge AI technologies, stating, “We’re bringing together the world’s leading AI team to redefine how software is built.”
The support from the Secretary of State for Science, Innovation, and Technology, Peter Kyle, further emphasises the UK’s standing as a nurturing ground for tech innovation. Kyle remarked on the swift actions of investors in bolstering the UK’s prowess in tech and AI, viewing Tessl as an embodiment of modern AI innovation poised for future scalability within the digital economy.
Tessl’s ambitious approach, underpinned by significant financial backing and strategic vision, positions it as a transformative force in the AI software development sector.
