Tessl Valuation, Funding & Investors

Tessl is valued at $750M as of November 2024.

See full Tessl profile

Last Tessl valuation

$750M

Series A · Nov 2024

Last Tessl funding round

$100M

Series A · Nov 2024

Cumulative funding Tessl raised

$125M

across 2 funding rounds

Key investors in Tessl

  • GV
  • boldstart ventures
  • Accel
  • Index Ventures
  • Ameet Patel
  • Darkmode Ventures

Tessl Overview

About Tessl

Tessl is a Berlin-based platform that delivers AI-native software development through its cloud-based environment generating secure, production-ready code from natural language specifications. The system automates unit testing, deployment pipelines, and self-healing updates for web and mobile applications using models like GPT-4 and custom fine-tunes. Tessl integrates with GitHub, AWS, and Vercel for enterprises building e-commerce and SaaS products. Launched in 2023, it supports languages including Python, JavaScript, and Rust with compliance for GDPR and SOC 2 standards.


Founded

2024

HQ

United KingdomLondon

Website

tessl.io

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Valuation

$750M (Nov 2024)

Tessl Valuation

Tessl is currently valued at $750M, based on its Series A in November 2024.

The $100M round was led by Index Ventures, with participation from GV, boldstart ventures and Accel.

Tessl's valuation has moved from $750M at its seed round in April 2024 to $750M in November 2024, across 2 priced rounds.

Tessl valuation by funding round

Tessl valuation by funding round
DateStageValuation
Nov 2024Series A$750M
Apr 2024Seed$750M

Tessl Funding History

Tessl has raised a total of $125M across 2 funding rounds.

Tessl's first fundraising round was a $25M seed round in April 2024. The most recent completed round was a $100M Series A in November 2024.

Tessl funding rounds

Tessl funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Nov 2024Series AIndex Ventures (lead); GV; boldstart ventures; Accel$100M$750MTessl is a London-based AI startup founded in February 2024 by Guy Podjarny, former CTO at Akamai and founder of Snyk, developing an AI-powered coding assistant that automates software design, coding, maintenance, performance optimization, and cybersecurity issue detection. The platform aims to enable developers to express intentions in natural language while AI handles implementation across the software lifecycle, positioning it beyond basic code completion tools like GitHub Copilot to full lifecycle management. Tessl has released two test versions, opened a waitlist, and plans a public launch in early 2025, with 21 employees currently. In November 2024, Tessl announced a $125M funding package comprising a previously undisclosed $25M seed round in April led by GV and boldstart, and a $100M Series A led by Index Ventures with participation from Accel, GV, and boldstart. The Series A achieved a $750M post-money valuation, confirmed across multiple reports, marking one of Europe's largest developer tools deals in 2024. Funds will accelerate platform development, team expansion in research, engineering, and design, and market readiness. Investors highlight Podjarny's track record and Tessl's potential to catalyze a cultural shift in software development. Index Ventures partner Carlos Gonzalez-Cadenas described it as a movement to change how software is made, emphasizing developer community focus. The raise occurs amid surging AI developer tools funding, with competitors like Poolside ($500M raise) and others like Cursor, Magic, and Codeium commanding high valuations, though Tessl remains pre-revenue and pre-product launch, underscoring VC confidence in its vision over current traction. Tessl differentiates by promising customizable implementations based on application telemetry, dynamic adjustments for speed or cost, and broad applicability to web/mobile apps, fostering an 'AI native' developer community.
Apr 2024Seedboldstart ventures (lead); GV (lead); Darkmode Ventures; Ameet Patel$25M$750MTessl is a London-based startup founded by Guy Podjarny, former founder of Snyk, developing an AI-native platform for software development that enables humans to express what they want to build while AI handles implementation, maintenance, and lifecycle management. The platform supports languages like Java, JavaScript, and Python initially, aiming beyond code completion to create extensible systems for autonomous coding, with a public launch planned for early 2025 and a waitlist now open. As of November 2024 announcement, the product was pre-launch with no customers or revenue generated. TechCrunch confirmed the combined rounds achieved a post-money valuation of $750M. The funds will support platform development, hiring in AI research, engineering, product, design, and developer relations, positioning Tessl in the surging generative coding tools market projected to reach billions by 2030. This funding marked one of the largest developer tools deals in Europe for 2024, reflecting strong VC confidence in Podjarny's vision despite the pre-revenue stage, amid competition in AI coding assistants. Investors highlighted the potential for Tessl to become a system of record for code maintenance, with extensibility to integrate with other AI coding platforms.

Who has invested in Tessl?

6 investors have backed Tessl across its funding rounds, including GV, boldstart ventures, Accel, Index Ventures, Ameet Patel and Darkmode Ventures.

Lead investors include Index Ventures, boldstart ventures and GV.


Tessl Investors

Investors in Tessl by funding rounds participated
InvestorHQRoundsRoleFirst check
GVUnited StatesSan Francisco, CA2LeadApr 2024
boldstart venturesUnited StatesMiami, FL2LeadApr 2024
Index VenturesUnited KingdomLondon1LeadNov 2024
Darkmode VenturesUnited StatesSan Francisco, CA1ParticipantApr 2024

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Tessl Competitors

Tessl competitors include listed companies like Hanwang Technology Co, C3.ai and Horizon Quantum, and private ones like Augment Code, /dev/agents and Dev-Docs.

Public and private companies comparable to Tessl
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Hanwang Technology CoChinaChinaPublicly listed$282M($14M)$605M-
Augment CodeUnited StatesSan Francisco, CAPrivate--$977M-
/dev/agentsUnited StatesSan Francisco, CAPrivate--$500M-
Dev-DocsUnited StatesChicago, ILPrivate--$500M-
C3.aiUnited StatesUnited StatesPublicly listed$250M($484M)$1.7B4.5x
Horizon QuantumSingaporeSingaporePublicly listed$269K($5M)$729M-
Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Beijing Deep Glint Tech$23M($29M)25.1x8.7x(19.8x)(80.2x)
Horizon Quantum$269K($5M)2287.8x-(125.2x)(33.0x)
Beijing Haitian Ruisheng$56M$5M13.8x14.0x160.9x-
Shenzhen Sunwin$20M($147M)37.7x-(5.0x)-
PKSHA Technology$140M$47M4.1x2.4x12.2x10.7x
Unisound Ai Technology$181M($22M)3.0x2.1x(24.5x)(36.1x)
ODDITY Tech$810M$131M1.5x1.8x9.6x18.3x
Hanwang Technology Co$282M($14M)2.2x-(44.4x)-

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Common questions about Tessl

When was Tessl founded?Tessl was founded in 2024.
Where is Tessl headquartered?Tessl is headquartered in London, United Kingdom.
Is Tessl publicly listed?No, Tessl is a private, VC-backed company.
What is Tessl's valuation?Tessl was last valued at $750M in its Series A in November 2024.
How much funding has Tessl raised?Tessl has raised $125M across 2 funding rounds.
What was Tessl's last funding round?Tessl's last funding round was a $100M Series A in November 2024, led by Index Ventures.
Who are Tessl's investors?Tessl's investors include GV, boldstart ventures, Index Ventures, Darkmode Ventures, Accel and Ameet Patel.
Which companies are comparable to Tessl?Companies comparable to Tessl include Hanwang Technology Co, Augment Code, /dev/agents, Dev-Docs, C3.ai and Horizon Quantum.

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