Codegen recently raised $16 million in a seed round led by Thrive Capital, bringing its total funding to $16.2 million and valuing the startup at $60 million. The funds will be used to scale the workforce and support infrastructure. Although Codegen doesn't have paying customers yet, it is currently being incubated with two large-scale enterprise partners and plans to grow its workforce from six to ten employees by the end of the year.
Key takeaways:
- Jay Hack, an AI researcher, has developed a platform called Codegen that uses large language models (LLMs) to automate repetitive software engineering tasks by translating natural language requests into code.
- Codegen differs from other code-generating AI by tackling codebase-wide issues like large migrations and refactoring, rather than just code autocompletion.
- Despite the potential for AI models to introduce insecure code, Hack believes that with the right balance of human oversight and best practices, Codegen can gain widespread developer trust.
- Codegen recently closed a $16 million seed round and plans to use the funds to scale its workforce and support its infrastructure, with the aim of growing its workforce from six to ten by the end of the year.