The former CEO of UK-founded tech giant Snyk has raised £100m ($125m) for his new AI venture Tessl.
Guy Podjarny said it was an ‘exciting day’ for Tessl, which was ‘well-fuelled for the big journey ahead’.
The funding for his new London-headquartered AI software development platform, comprises a $25m seed round led by Miami-based boldstart ventures and GV earlier this year, and a subsequent $100m Series A round led by Index Ventures.
The latest investment values Tessl at as much as $750m (£590m).
Podjarny said he was ‘humbled by this vote of confidence’ by Tessl.
“I see this round as recognition of the incredible team we’ve assembled to take this on,” he said. “Their work isn’t visible yet, but I’m regularly amazed by the depth and speed of thinking and execution in our founding team.
“Not only are they a group of brilliant people, they’re also fun, caring and driven. I’m truly grateful they’ve chosen to join this journey.
“At the end of the day, funding is a means, not an end. These funds give us a strong and long-term foundation to build with, and we’ll invest them in helping the AI Native Dev movement succeed through both product and community growth.”
Podjarny co-founded the ‘developer-first’ cybersecurity company Snyk in 2015 in London and Tel Aviv, Israel in 2015 with Assaf Hefetz and Danny Grander.
Guy Podjarny
In 2021 a Series F investment of around £436 million valued Snyk at more than £6.4 billion.