A UK startup focused on using AI agents to resolve software failures has secured $17 million in a funding round supported by the VC arm of Google, owned by Alphabet. Phoebe, established by Matt Henderson and James Summerfield, former CEO and CIO of Stripe Europe, previously created Rangespan, a UK startup that assists retailers with data-driven product decisions, acquired by Google in 2014.
Phoebe is launching today amid a surge of AI activity, including funding, company formations, and new software and product releases. The company utilizes AI agents to monitor and troubleshoot software issues, generating necessary code and infrastructure adjustments for fixes. It employs swarms of AI agents to sift through large volumes of isolated data, assessing multiple potential causes and solutions for issues.
Industry statistics reveal that financial losses due to software outages exceeded $400 billion in 2024. Phoebe’s founders emphasize that software failures might worsen as AI-generated code results in less comprehensible systems. Henderson stated that critical incidents could critically impact customer relationships, while numerous minor issues reduce engineering efficiency. Current software monitoring tools lack intelligence and require significant human intervention to diagnose and address problems.
The funding round also includes participation from Cherry Ventures, alongside GV, formerly Google Ventures.