Codeium, an AI-powered code acceleration platform, announced it has secured $150 million in Series C funding, raising the company’s valuation to $1.25 billion and bringing the startup to Unicorn status in less than two years from inception. The round was led by General Catalyst, with continued support from existing investors Kleiner Perkins and Greenoaks.
Every historical technological advancement has led to a steep change in developer possibility. AI is no different. Teams that leverage AI to empower their software development are going to build more, build faster and with higher quality. AI tools often promise help but fall short, offering fragmented, subpar support that complicates rather than simplifies work. Codeium breaks this pattern, delivering an AI-powered platform that transforms how developers work on complex codebases by making coding faster, smarter, and more intuitive.
“The future of coding isn’t just about writing lines of code faster—it’s about enabling developers to think bigger, push boundaries, and achieve the extraordinary,” said Varun Mohan, CEO of Codeium. “This fresh funding means we’re more equipped to help developers turn those ‘what ifs’ into ‘what’s next,’ having the freedom to innovate without limits and turn challenges into opportunities for growth.”
With actionable learnings and requests from its large and rapidly expanding set of enterprise customers, Codeium will use the fresh funds to accelerate the development of new features and products, and contribute to company headcount growth. Codeium plans to invest heavily in research and development, partnering with its customers to maximize their AI strategy, and exploring new strategic partnerships that can broaden its reach and impact.
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This comes on the heels of the company’s latest launch of technological breakthroughs, including Cortex, an advanced AI-powered reasoning engine that manages complex coding tasks with exceptional precision, and Forge, an AI-assisted code review that reduces code review cycle times and improves code review culture.
“Codeium isn’t just an idea—it’s a fully scaling business with widespread enterprise adoption. Their genAI tools for software development are proving their worth in real production environments, where reliability is key,” said Quentin Clark, Managing Director of General Catalyst. “As we see it, Codeium’s customer-driven approach has led to solutions that work in any environment, IDE, or SCM, with broader language support than anyone else.”
The news comes at a pivotal time for the company and follows a period of rapid growth for Codeium. Over the past two years, the company has assembled a team of 80 professionals and grown its user base to more than 700,000 active developers. The enterprise product 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, significantly boosting productivity.
Source: Businesswire
