Codeium Raises $150M in Series C Funding to Accelerate AI-Powered Code Acceleration Platform
Codeium is dedicated to advancing the efficiency of software development through AI-driven solutions.
Company Name: Codeium
Location: Mountain View, CA
Sector: AI, Software Development, Code Acceleration
Funding Details: Raised $150 million in Series C funding at a $1.25 billion valuation, led by General Catalyst with participation from existing investors Kleiner Perkins and Greenoaks.
Purpose of Investment: The company plans to use the funds to accelerate the development of new features and products, and to support headcount growth.
Product and Innovation: Codeium provides a generative AI-powered coding platform that leverages proprietary code-biased large language models (LLMs) to reduce inefficiencies in software development and optimize developer productivity. The platform is designed for optimal flexibility, supporting over 70 languages and integrating with more than 40 Integrated Developer Environments (IDEs), such as Visual Studio Code, the JetBrains suite, Eclipse, and Jupyter Notebooks.
Recent Developments: Over the past two years, Codeium has assembled a team of 80 professionals and grown its user base to more than 700,000 active developers. The enterprise product has reached eight figures in annual recurring revenue, with ARR growing by over 500% since early 2024. Codeium now processes more than 100 billion tokens daily, and has been integrated into production workflows at companies like Zillow, Dell, and Anduril.
About the Company: Codeium is dedicated to advancing the efficiency of software development through AI-driven solutions. The company’s mission is to empower developers by providing tools that streamline the coding process, enhance productivity, and drive innovation in software engineering.
