SolveAI, Launched Eight Months Ago, Secures $50 Million to Compete in AI Coding Tools Market

Posted on by

In only eight months since its founding, SolveAI has raised $50 million. 

That’s briefer than a pregnancy but longer than an NFL season. The enterprise coding startup—founded in July by ex-Palantir engineer Steve Basher—employs 11 people and closed its $5 million Accel-led pre-seed round in August. Basher’s concept was straightforward: An AI coding tool needs to be entirely tailored to the business using it.

“AI is somewhat ineffective without context,” Basher told . “Context is paramount. So our product revolves around this question: What framework do you create to capture a company’s context?”

SolveAI secured its second funding round in November, with leading the London-based firm’s $45 million Series A, has learned exclusively. The startup’s backers to date also include Northzone, Mantis VC, and NeverLift, plus Palantir CISO Mike LoSapio, DeepMind’s Pushmeet Kohli, and OpenAI’s Olivier Godement.

SolveAI is capitalizing on multiple trends, a fast-paced story in a rapidly evolving market. For instance, the company operates in the red-hot yet fiercely competitive AI coding tool sector, which features players like Cursor (valued at $29.3 billion) and Lovable (valued at $6.6 billion). Lovable, in particular, is a useful comparison, as it’s already scaling to do what SolveAI aims to—“vibe code,” or . 

“Lovable is great for consumers,” Basher said. “It’s designed for people without technical expertise. But I believe—beyond Lovable, in the wider category—no one has cracked that final stretch. No one has yet figured out how to generate software that truly feels like it was written by the enterprise’s own engineers.”

Basher is confident SolveAI can, indeed, tackle that final stretch for big businesses seeking to vibe code with their staff. Tom Hulme, managing partner at GV, thinks Basher and SolveAI can succeed by mastering the details.

“The way enterprises develop and roll out software is so nuanced that transitioning from prototypes to scalable production demands a deep grasp of this,” Hulme stated via email. The ultimate goal, he adds, “enables a new wave of custom, production-ready, and compliant software solutions.”

This aligns with Basher’s philosophy on what it takes to achieve AI ROI, . 

“The more we understand about a company, the better we can serve it,” Basher said. “Why would anyone want to use a different tool? You want something that knows your company better than you do.”

See you tomorrow,

Allie Garfinkle
X:
Email:
Submit a deal for the Term Sheet newsletter .

Joey Abrams curated the deals section of today’s newsletter. .