Funding round
Poolside Seed
Poolside, which works in artificial general intelligence research and development in San Francisco, raised $126M in a Seed round announced on 24 Aug 2023, led by Felicis and Redpoint Ventures, at a $526M post-money valuation. 8 firms took part. It is Poolside's first venture round on record.
$126M
Amount raised
$526M
Post-money valuation
8
Investors
2 leads
24%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Poolside at $526M after the new money. The $126M bought investors about 24% of the company. It is Poolside's first venture round on record, in the year it was founded (2023). It is 20% of the $626M Poolside has raised in the venture rounds on record. Poolside raised again 14 months later: a Series B round of $500M in Oct 2024, at $3.00B post-money.
Poolside's funding rounds
Poolside has 2 venture rounds on record. This one is highlighted.
- Seed this round 24 Aug 2023, led by Felicis and Redpoint Ventures $126M$526M post-money
- Series B 2 Oct 2024, led by Bain Capital Ventures $500M$3.00B post-money
Investors
Who put money in
Felicis and Redpoint Ventures led the round with 6 other firms.
Lead investors
- Felicis backs 237 venture-backed companies new investor
- Redpoint Ventures backs 194 venture-backed companies new investor
Also in the round
- Bain Capital Ventures backs 220 venture-backed companies new investor
- Bpifrance new investor
- backs 23 venture-backed companies new investor
- backs 50 venture-backed companies new investor
- New Wave Ventures new investor
- backs 59 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development and geographic expansion.
- Product development
- Geographic expansion
Comparable rounds
How it compares
243 Seed rounds in Software Development Services within a year either side disclosed an amount; the median was $3.5M, and this round was 35 times the median. The closest in time, other companies' Seed rounds in Software Development Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Software Development Services | 7 Aug 2023 | $5.0M | not disclosed | Glilot Capital and Hetz Ventures |
| Software Development Services | 30 Aug 2023 | $4.7M | not disclosed | Eurazeo |
| Software Development Services | 23 Aug 2023 | $4.5M | not disclosed | Stellaris Venture Partners and Foundation Capital |
| Software Development Services | 17 Aug 2023 | $3.3M | not disclosed | Electric Capital |
| Software Development Services | 22 Aug 2023 | $2.6M | not disclosed | Zelda Ventures |
| Software Development Services | 17 Aug 2023 | $2.5M | not disclosed | not named |
| Software Development Services | 9 Aug 2023 | $1.4M | not disclosed | not named |
| Software Development Services | 1 Aug 2023 | $200K | not disclosed | not named |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Poolside raise in its Seed round?
Poolside raised $126M in its Seed round, announced in Aug 2023.
Who led Poolside's Seed round?
Felicis and Redpoint Ventures led it, with Bain Capital Ventures, Bpifrance, Frst, Motier Ventures and New Wave Ventures and 1 more.
What was Poolside's valuation at the Seed round?
$526M post-money.
How does it compare with other Seed rounds in Software Development Services?
243 Seed rounds in Software Development Services within a year either side disclosed an amount; the median was $3.5M, and this round was 35 times the median.
Did Poolside raise again after this round?
Yes: a Series B round in Oct 2024 of $500M at $3.00B post-money.