Israeli Generative AI for coding startup, Tabnine, secured $25 million in a Series B financing round led by Telstra Ventures. Participating investors include Atlassian Ventures, Elaia, Headline, Hetz Ventures, Khosla Ventures, Qualcomm Ventures, and TPY Capital.
The funding arrives as generative AI becomes increasingly integral to software development, a trend backed by research suggesting significant cost savings and innovation boosts for IT companies. Generative AI’s use in software lifecycle is rapidly increasing, with 78% of companies planning AI integration in the next 3-5 years according to GBK Collective.
Tabnine’s platform, already serving over a million users each month, is part of a broader adoption of AI that, contrary to fears of job loss, could help mitigate the tech industry’s skilled worker shortage.
As an early adopter of Generative AI for coding, the startup provides a comprehensive platform for developers, supporting the SDLC from code completion to deployment. Users can complete over half their coding with Tabnine, which also introduced Tabnine Chat—an AI assistant that writes code and queries organizational codebases—prioritizing security and utilizing large language models for enhanced development speed, quality, and reliability. Tabnine operates at scale with options for secure, private deployment on-premises or in a Virtual Private Cloud, ensuring codebase privacy and protection against incorporating proprietary code from external sources.
The new funding brings the company’s total investment to $55 million.
With the investment, Tabnine plans to expand its Generative AI capabilities across the entire software development lifecycle, from coding to deployment.