Poolside, a startup developing AI-powered software, is in talks for a new funding round that would value the company at $3 billion before it even launches its initial product, according to people familiar with the matter. The company is seeking to raise close to $500 million, the people said. Poolside's existing investor, Bain Capital Ventures, is in talks to lead the round. Neither Poolside nor Bain Capital Ventures commented.

Poolside was founded in early 2023 by Jason Warner, former CTO of GitHub, and software entrepreneur Eiso Kant. After raising $126 million in seed funding, the startup moved to France last year. Additionally, two other Parisian startups, Mistral AI and H, have secured significant funding to build generative AI models.