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- Tessl
Tessl Valuation, Funding & Investors
Tessl is valued at $750M as of November 2024.
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
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
Website
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
| Date | Stage | Valuation |
|---|---|---|
| Nov 2024 | Series A | $750M |
| Apr 2024 | Seed | $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
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2024 | Series A | Index Ventures (lead); GV; boldstart ventures; Accel | $100M | $750M | Tessl 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 2024 | Seed | boldstart ventures (lead); GV (lead); Darkmode Ventures; Ameet Patel | $25M | $750M | Tessl 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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Apr 2024 | ||
| 2 | Lead | Apr 2024 | ||
| 1 | Lead | Nov 2024 | ||
| 1 | Participant | Apr 2024 | ||
This data is available for Pro users. Sign up to see all 6 Tessl investors. Start Free Trial | ||||
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Start Free TrialTessl 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.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $282M | ($14M) | $605M | - | ||
| Private | - | - | $977M | - | ||
| Private | - | - | $500M | - | ||
| Private | - | - | $500M | - | ||
| Publicly listed | $250M | ($484M) | $1.7B | 4.5x | ||
| Publicly listed | $269K | ($5M) | $729M | - |
Tessl Public Comps
Tessl is still privately-owned, but its public comps include Beijing Deep Glint Tech, Horizon Quantum, Beijing Haitian Ruisheng, Shenzhen Sunwin, PKSHA Technology, Unisound Ai Technology, ODDITY Tech, Hanwang Technology Co, Beijing CTJ Info Tech and Baida Group Co.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $23M | ($29M) | 25.1x | 8.7x | (19.8x) | (80.2x) | |||
| $269K | ($5M) | 2287.8x | - | (125.2x) | (33.0x) | |||
| $56M | $5M | 13.8x | 14.0x | 160.9x | - | |||
| $20M | ($147M) | 37.7x | - | (5.0x) | - | |||
| $140M | $47M | 4.1x | 2.4x | 12.2x | 10.7x | |||
| $181M | ($22M) | 3.0x | 2.1x | (24.5x) | (36.1x) | |||
| $810M | $131M | 1.5x | 1.8x | 9.6x | 18.3x | |||
| $282M | ($14M) | 2.2x | - | (44.4x) | - | |||
This data is available for Pro users. Sign up to see all Tessl competitors and their valuation data. Start Free Trial | ||||||||
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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