That\u2019s shorter than a pregnancy, but longer than an NFL season. The enterprise coding startup\u2014incorporated in July by former Palantir engineer Steve Basher\u2014has eleven employees, and raised its $5 million Accel-led pre-seed in August. Basher\u2019s idea was simple: That an AI coding tool must be completely specific to the company using it.<\/p>\n
\u201cAI\u2019s somewhat useless without context,\u201d Basher told Fortune. \u201cContext is everything. So, our product is: what framework do you build to capture a company\u2019s context?\u201d<\/p>\n
SolveAI got its second funding bump in November, as Google Ventures<\/a> led the London-based company\u2019s $45 million Series A, Fortune has exclusively learned. The startup\u2019s investors so far also include Northzone, Mantis VC, and NeverLift, along with Palantir CISO Mike LoSapio, Google<\/a> DeepMind\u2019s Pushmeet Kohli, and OpenAI\u2019s Olivier Godement.<\/p>\n SolveAI is riding several waves, a high-velocity story in a fast-moving market. The company is, for example, operating in the hot but hypercompetitive AI coding tool space, which includes companies like Cursor (valued at $29.3 billion) and Lovable (valued at $6.6 billion). Lovable, in particular, is a worthwhile point of comparison, as in some sense it\u2019s already scaling to do what SolveAI does\u2014\u201cvibe code,\u201d or help non-technical people use natural language to build software<\/a>.\u00a0<\/p>\n \u201cLovable is fantastic for consumers,\u201d said Basher. \u201cIt\u2019s built around people who don\u2019t have technical opinions. But I think\u2014beyond just Lovable, in the broader category\u2014no one\u2019s figured out how to cover that last-mile. No one\u2019s yet figured out how to generate software that actually is as if the enterprise\u2019s own engineers had written it.\u201d<\/p>\n Basher believes that SolveAI can, yes, solve that last-mile for large companies looking to vibe code with their employees. Tom Hulme, GV managing partner, believes Basher and SolveAI can win on getting the details right.<\/p>\n \u201cHow enterprises write and deploy software is so nuanced that moving from prototypes to scalable production requires a deep understanding of this,\u201d said Hulme via email. The endgame, he says, \u201callows a generation of bespoke, production-ready, and compliant software solutions.\u201d<\/p>\n This gets Basher\u2019s philosophy around what it means to find AI ROI, a subject of much consternation among enterprises<\/a>.\u00a0<\/p>\n \u201cThe more we can understand about a company, the better we can serve it,\u201d said Basher. \u201cWhy would anyone want to use anyone else? You want to use something that knows your company better than you do.\u201d<\/p>\n See you tomorrow,<\/p>\n Allie Garfinkle Joey Abrams curated the deals section of today\u2019s newsletter. Subscribe here<\/a>.<\/p>\n VENTURE CAPITAL<\/p>\n – SambaNova<\/a>, a Palo Alto, Calif.-based AI platform, raised $350 million in Series E funding. Vista Equity Partners and Cambium Capital led the round and were joined by T. Rowe Price and others.<\/p>\n – Taalas<\/a>, a Toronto, Canada-based custom AI chip designer, raised $169 million in funding from Quiet Capital, Fidelity, Pierre Lamond, and others.<\/p>\n – Basis<\/a>, a New York City-based agentic AI platform designed for accountants, raised $100 million in Series B funding. Accel led the round and was joined by GV, Lloyd Blankfein, and existing investors.\u00a0<\/p>\n – Letter AI<\/a>, a Chicago, Ill.-based AI-powered revenue enablement platform for go-to-market teams, raised $40 million in Series B funding. Battery Ventures led the round and was joined by Y Combinator, Lightbank, Northwestern Mutual Future Ventures, Stage 2 Capital, and existing investors.<\/p>\n – Frankenburg Technologies<\/a>, a Tallinn, Estonia-based developer of missile systems, raised \u20ac30 million ($35.3 million) in Series A funding. Plural led the round and was joined by SmartCap.<\/p>\n – Koah<\/a>, a San Francisco, Calif.-based developer technology that places contextual ads within AI conservations, raised $20.5 million in Series A funding. Theory Ventures led the round and was joined by Forerunner and South Park Commons.<\/p>\n – Xflow<\/a>, a Bangalore, India-based business-to-business cross-border payments platform, raised $16.6 million in Series A funding. General Catalyst led the round and was joined by PayPal Ventures and existing investors.<\/p>\n – VoiceLine<\/a>, a Munich, Germany-based AI-assistant for field sales teams, raised \u20ac10 million ($11.8 million) in Series A funding. Alstin Capital and Peak led the round and were joined by Scalehouse Capital, Venture Stars, and NAP.<\/p>\n – MedScout<\/a>, an Austin, Texas-based agentic AI platform designed to find leads for medical technology companies, raised $10 million in funding. Fulcrum Equity Partners led the round and was joined by Live Oak Venture Partners and Stage 2 Capital.<\/p>\n – Wootzwork<\/a>, a Houston, Texas-based engineering and manufacturing solutions company, raised $6.6 million in Series A funding. Z47 led the round and was joined by Nexus Venture Partners, AdvantEdge Founders and Stride Ventures.<\/p>\n PRIVATE EQUITY<\/p>\n – Dynamic Campus, a portfolio company of Atlantic Street Capital, merged with CampusWorks<\/a>, a Sarasota, Fla.-based provider of strategy, services, and support for higher education institutions. Financial terms were not disclosed.<\/p>\n EXITS<\/p>\n – Morgan Stanley Capital Partners acquired Security 101<\/a>, a West Palm Beach, Fla.-based security integration company for businesses, from Gemspring Capital. Financial terms were not disclosed.<\/p>\n IPOS<\/p>\n – MiniMed Group<\/a>, a Northridge, Calif.-based medical technology group and carveout of Medtronic, plans to raise up to $784 million in an offering of 28 million shares priced between $25 and $28 on the Nasdaq. The company posted $2.9 billion in sales for the year ended Oct. 24.<\/p>\n FUNDS + FUNDS OF FUNDS<\/p>\n
X: @agarfinks<\/a>
Email: alexandra.garfinkle@fortune.com<\/a>
Submit a deal for the Term Sheet newsletter here<\/a>.<\/p>\n