Codeium, which recently raised $150 million in a Series C funding round, is competing in a market that includes Microsoft-owned Github and Cognition. Github has over 1.3 million subscribers for its own copilot tool, while Cognition, valued at $2 billion, has an AI agent called Devin. Codeium aims to carve out its own niche with Windsurf, which allows engineers to switch between traditional and AI coding.
Key takeaways:
- Codeium, an AI startup, has unveiled a new tool called Windsurf, which combines advanced automation with developer control to streamline the coding process.
- The market for AI coding tools is still emerging, with IDC estimating it will reach $4 billion by 2029. However, it has attracted significant attention from investors, startups, and large tech companies.
- In August, Codeium closed a $150 million Series C funding round, raising the company's valuation to $1.25 billion. The round was led by General Catalyst and included existing investors Kleiner Perkins and Greenoaks.
- Other companies in the market include Github, owned by Microsoft, with over 1.3 million subscribers to its copilot tool, and Cognition, valued at $2 billion, which has an AI agent called Devin.