Title: Tabnine Secures $25M in Series B Funding to Accelerate Adoption of Generative AI in Software Development
Tabnine, the Israeli-based generative artificial intelligence (AI) start-up, has successfully raised $25 million in its Series B funding round. The funding was led by Telstra Ventures, with participation from new investor Atlassian Ventures and existing backers including Elaia, Headline, Hetz Ventures, Khosla Ventures, TPY Capital, and Qualcomm Ventures. This latest investment brings Tabnine’s total funding to date to $55 million.
Tabnine, founded in 2012, specializes in providing an AI-powered assistant for software developers. By integrating generative AI with the end-to-end software development lifecycle (SDLC), Tabnine aims to enhance code development efficiency and output quality. The company’s offerings include Tabnine Chat, an AI code assistant that utilizes familiar codebases to write code and respond to natural language prompts.
The funding secured by Tabnine will be utilized to further develop and integrate generative AI into the SDLC, meeting the increasing demand for this innovative technology. Additionally, the company plans to strengthen its sales and global support teams to effectively support customers around the world.
Competition in the generative AI space is fierce, with companies like Amazon CodeWhisperer and GitHub Copilot vying for dominance. What sets Tabnine apart is its transparent approach, allowing its AI system to be trained on company data without requiring access to proprietary code. This unique feature not only ensures privacy and security but also positions Tabnine as a leader in the field.
Dror Weiss, the co-founder and CEO of Tabnine, expressed excitement about the opportunity to meet the growing enterprise demand for generative AI solutions. He emphasized the effectiveness of generative AI in delivering real business results, highlighting the importance of addressing customers’ development needs while prioritizing security, privacy, and consistency.
Telstra Ventures general partner Steve Schmidt commended Tabnine for its advancements in generative AI systems. He noted that Tabnine’s AI technology stands out among others, as it empowers organizations to develop and deploy software with improved speed and quality, all while safeguarding their intellectual property. Schmidt firmly believes that Tabnine is at the forefront of the generative AI revolution.
With generative AI systems gaining momentum and driving transformative outcomes across various industries, Tabnine is well-positioned to capitalize on this technology. By securing significant funding, the company can continue to innovate and provide valuable solutions that meet the evolving needs of software developers worldwide.
In conclusion, Tabnine’s recent funding success is a testament to the growing interest and demand for generative AI in the software development landscape. As the company strengthens its position in the market, it remains focused on delivering innovative, secure, and efficient solutions that drive the future of software development.
