Codeium hits Unicorn status with $150m Series C round: What this means for the future of AI coding platforms

Codeium, the innovative AI-powered coding platform, has reached a significant milestone with its recent $150 million Series C funding round. This latest investment pushes the company’s valuation to an impressive $1.25 billion, officially marking its status as a Unicorn. The round was spearheaded by General Catalyst, with continued backing from established investors Kleiner Perkins and Greenoaks. This brings Codeium’s total funding to $243 million.

Founded just under two years ago, Codeium has rapidly ascended in the tech industry by leveraging generative AI and proprietary code-biased Large Language Models (LLMs). The platform is designed to enhance software development efficiency and developer productivity by addressing the common inefficiencies that plague traditional coding practices.

“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,” stated Varun Mohan, CEO of Codeium. Mohan emphasized that the new funding will empower the company to further enhance its offerings and support developers in transforming innovative ideas into reality.

Codeium’s recent technological advancements include the launch of Cortex, an advanced AI-powered reasoning engine that excels in managing complex coding tasks, and Forge, an AI-assisted code review tool designed to streamline the code review process and foster a more effective review culture. These innovations are part of Codeium’s broader strategy to drive significant improvements in software development practices.

The Series C funding will enable Codeium to accelerate the development of new features and expand its team, which currently numbers 80 professionals. The company also plans to invest heavily in research and development, collaborate closely with its enterprise customers, and explore new strategic partnerships.

According to Quentin Clark, Managing Director of General Catalyst, “Codeium isn’t just an idea—it’s a fully scaling business with widespread enterprise adoption. Their generative AI tools for software development are proving their worth in real production environments, where reliability is key.”

Codeium’s platform supports over 70 programming languages and integrates with more than 40 Integrated Developer Environments (IDEs), including Visual Studio Code, JetBrains suite, Eclipse, and Jupyter Notebooks. The company’s user base has surged to over 700,000 active developers, with its enterprise product achieving eight-figure annual recurring revenue and a remarkable 500% growth in ARR since early 2024. Codeium processes over 100 billion tokens daily and has been seamlessly integrated into the workflows of major companies such as Zillow, Dell, and Anduril, significantly boosting productivity.