Feb. 20, 2011 - According to a report today in the foreign media outlet TechCrunch, AI-driven programming startup Codeium A new round is underwayFinancing,Valued at $2.85 billion(Note: Currently approximately RMB 20,757 million).
The funding round comes just six months after Codeium announced the completion of its Series C funding round. At that time, the company received $125 million in funding, valuing it at $1.25 billion (currently around RMB 9,104 million).
Codeium's current annualized recurring revenue (ARR) is around $40 million (currently around Rs. 291 million), people familiar with the matter said. Based on this figure, Codeium's implied valuation is about 70 times ARR, a much higher multiple than other AI code editing companies.
Last month, Anysphere, makers of the AI programming assistant Cursor, announced a new round of funding.Valued at $2.5 billion(currently ~RMB18.208 billion). Based on its reported $100 million in revenue, investors value it at a multiple of 25x ARR.
Codeium is competing with other contenders in the AI programming assistant space, including Anysphere, Poolside, Magic, Microsoft and others. While Codeium's high valuation is unclear as to the exact negotiation process, sources have revealed that Codeium did not actively seek funding, but rather investors reached out to the company.
Codeium has made this possible by focusing onFor businesses, not individual developersofferings to differentiate themselves from competitors. Last summer, the company said the free version of its platform was used by more than 1,000 enterprise customers.
Last November, Codeium launched Windsurf Editor, a program that canAutomate parts of the code without human interventiontools, and similar features are found in products from other companies such as Cursor.
Codeium was co-founded in 2021 by Varun Mohan and his childhood friend Douglas Chen, who worked at Meta on software tools for virtual reality headsets such as the Oculus Quest, and Mohan, who was a technical lead at Nuro, a self-driving delivery startup, where he led the autonomous infrastructure team.
