Codeium, an AI -based coding startup, is raising new funds of new funds, including new capital, according to two sources with knowledge of the deal.
People are led by the return of investor Kleiner Perkins, people said.
The new round has only been six months since Silicon Valley -based Codeium announced that it had closed $ 150 million in Series C with a $ 1.5 billion funding valuation led by General Catalyst with the participation of Kleiner Perkins and Greenoaks. Techcrunch could not confirm the dollar of new funds.
Codeium and Kleiner Perkins did not respond to the request.
One person said that the company reached about $ 40 million in annual revenue (ARR). Based on this import value, the implicit evaluation of Codeium is about 70 times ARR. Much higher than other AI code editors.
Last month, AnySphere, a manufacturer of AI-Power Code Assistant, announced a new financing round with $ 2.5 billion. Based on the reported $ 100 million sales, investors assigned 25 times of Arr valuation.
In addition to the Sphere, which many investors say are the current leaders in this category, Codeium competes with Poolside, Magic, and Microsoft’s GitHub Copilot.
It is not clear how Codeuim negotiated such a rich evaluation, but sources said TechCrunch said that investors do not want to raise new funds before investors approach this round.
Codeium is trying to distinguish from competitors for companies rather than individual developers. Last summer, the company said in TechCrunch that the platform’s free tier is used by more than 1,000 enterprise customers, including Anduril, Zillow and Dell.
In November, the company introduced a Windsurf editor, which is known as some code, agent AI or “agent mode” that can write some codes without human participation. Others like the cursor also offer similar features.
Codeium was established in 2021 by Varun Mohan and his childhood friend and fellow MIT graduate Douglas Chen. Before Codeium, Chen was in META and helped to build software tools for VR headsets such as Oculus Quest. MOHAN was the technical director of NURO, an autonomous delivery startup, and was in charge of the autonomous infrastructure team management.
