Codeium, a Mountain View, CA-based AI-powered code acceleration platform, has raised $150 million in a Series C funding round at a $1.25 billion valuation.
Investors
The round was led by General Catalyst, with continued support from existing investors Kleiner Perkins and Greenoaks. This investment brings Codeium’s total funding to $243 million.
General Catalyst is a venture capital firm that invests in transformative, enduring change, supporting founders from seed to growth stages. With offices in San Francisco, New York City, London, Berlin, Bangalore, and Boston, General Catalyst partners with entrepreneurs who challenge the status quo to build lasting businesses.
Codeium Use of Funds
The company will use the funds to accelerate product development, expand headcount, and enhance strategic partnerships, following the recent launch of advanced AI tools like Cortex and Forge.
About Codeium
Codeium is a generative AI-powered coding platform that leverages proprietary code-biased Large Language Models (LLMs) to reduce inefficiencies in software development and maximize developer productivity. Designed for optimal flexibility, Codeium supports over 70 languages and integrates with over 40 Integrated Development Environments (IDEs), including Visual Studio Code, the JetBrains suite, Eclipse, and Jupyter Notebooks. Codeium now processes over 100 billion tokens daily and has been integrated into production workflows at companies like Zillow, Dell, and Anduril.
Funding Details
Company: Exafunction, Inc.
Raised: $150.0M
Round: Series C
Funding Date: August 2024
Lead Investor: General Catalyst
Additional Investors: Kleiner Perkins, Greenoaks
Company Website: https://codeium.com/
Software Category: AI-powered Code Acceleration
Source: https://www.businesswire.com/news/home/20240829623867/en