A UK startup which deploys so-called AI agents to fix software failures has raised $17m, in a funding round backed by the VC arm of Alphabet-owned Google.
Phoebe was founded by Matt Henderson and James Summerfield, formerly CEO and CIO of Stripe Europe, who sold their first startup, Rangespan, a UK startup that uses data science to help retailers determine which products to sell and when, to Google in 2014.
Phoebe, which is launching today, is launching amid an explosion of activity in AI, be it funding, company, product and software launches.
Amid this explosion of AI activity, Phoebe deploys AI agents to monitor and diagnose software problems, generating code and infrastructure changes to fix them.
It says it deploys “swarms” of AI agents that search for evidence among vast siloed data to evaluate many different potential causes and solutions for a problem.
Financial losses from software outages grew to more than $400 billion in 2024, industry figures show.
The founders of Phoebe point out that software failures could get a lot worse as AI-generated code leads to systems that are less well understood when things go wrong.
Henderson said: “High-severity incidents can make or break big customer relationships, and numerous smaller problems drain engineering productivity. Software monitoring tools exist, but they aren’t very intelligent and require people to spend a lot of time working out what’s wrong and what to do about it.”
Along with GV-formerly Google Ventures- the funding round was also led by Cherry Ventures.
IMAGE:PIXABAY
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