Codeium Raising Funding at $2.85 Billion Valuation

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2 days ago

Summary

Codeium, an AI-powered coding startup, is raising a new round of funding at a $2.85 billion valuation. The company has reached about $30 million in annualized recurring revenue (ARR) and aims to distinguish itself from competitors by targeting companies rather than individual developers.

Key Points

Codeium is raising a new round of funding at a $2.85 billion valuation, including fresh capital.
The company has reached about $30 million in annualized recurring revenue (ARR), with an implied valuation roughly 95 times ARR.
Codeium aims to distinguish itself from competitors by targeting companies rather than individual developers.

Why It Matters

The funding round highlights the growing demand for AI-powered coding solutions and Codeium's competitive positioning in the market.

Author

Marina Temkin

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