Codeium, provider of an AI toolkit for developers, has announced that it recently completed a Series B funding round of $65 million.
The company plans to use this new influx of money to expand its platform to tackle more parts of the development life cycle, such as system design, code maintenance, and continuous scanning. It will also invest in growing its engineering and sales teams.
This funding round was led by Kleiner Perkins, with participation from General Catalyst and Greenoaks, which had previously invested in the company.
Codeium offers developers a toolkit that is powered by AI to improve efficiency in the software development process. It includes capabilities like autocomplete, chat, and context awareness. Currently it supports over 70 languages and integrates with over 40 IDEs, and is already used by over 300,000 developers.
“Software engineering is the backbone of innovation yet the process is expensive and inefficient due to imperfect knowledge retrieval, boilerplate tasks, maintenance overhead, and more,” said Varun Mohan, CEO of Codeium. “The fast rise of LLMs is now giving developers the opportunity to overcome these challenges and significantly increase their productivity. This is precisely why we developed Codeium: to let developers focus on creative, high-value tasks—not tedious maintenance work.”
Leigh Marie Braswell, partner at Kleiner Perkins, the lead investor of this Series B round, added: “Codeium has all the elements of a winning AI company: the visionary leadership, the breakthrough technology, and a growing customer roster of enterprise companies. Their AI technology is not just accelerating developer productivity; it’s reshaping the way software is written. We’re thrilled to be on this journey with Varun and his team as they continue to pave the way for the future of software development.”