Codeium, a Mountain View, CA-based generative AI-powered coding toolkit, has raised $65 million in Series B funding.
SaaS Investors
The round was led by Kleiner Perkins, with participation from Greenoaks and General Catalyst.
Founded in 1972, Kleiner Perkins is a venture capital firm based in Menlo Park, California, that specializes in investing in incubation, early-stage, and growth companies. The firm seeks to invest in companies based in the United States, Canada, the Middle East, the United Kingdom, North America, and Mainland China.
Codeium Use of Funds
The company will use the funding to grow engineering and sales functions and expand the platform to address various tasks in the software development life cycle.
About Codeium
Codeium is an AI-powered software developer productivity platform. The company’s platform leverages code-biased Large Language Models (LLMs) to enhance software development efficiency. It supports over 70 languages and integrates with more than 40 Integrated Developer Environments (IDEs). The platform offers features like autocomplete, chat, and context awareness, and over 44% of newly committed code for its user base.
Funding Details
Company: Exafunction, Inc.
Raised: $65.0M
Round: Series B
Funding Month: January 2024
Lead Investors: Kleiner Perkins
Additional Investors: Greenoaks and General Catalyst
Company Website: https://codeium.com/
Software Category: AI Coding
Source: https://www.prnewswire.com/news-releases/codeium-raises-65-million-to-bring-generative-ai-to-software-coding-302047958.html