Codeium, a startup that utilizes AI to assist with coding tasks, is currently in discussions to secure a new round of funding at a valuation of $2.85 billion. This valuation includes fresh capital and is being led by Kleiner Perkins, a returning investor. The new funding round comes just six months after Codeium announced the closure of a $150 million Series C funding round at a $1.25 billion post-money valuation, led by General Catalyst and participated in by Kleiner Perkins and Greenoaks. Codeium has achieved $40 million in annualized recurring revenue and competes with other AI code editing companies such as Anysphere, Poolside, Magic, and Microsoft's GitHub Copilot. The company distinguishes itself by targeting companies rather than individual developers, with over 1,000 enterprise customers using its free tier platform, including Anduril, Zillow, and Dell. Codeium introduced Windsurf Editor, which can write some code without human involvement, known as agentic AI or 'agent mode'. The company was founded in 2021 by Varun Mohan and Douglas Chen, with Chen previously working at Meta on software tools for VR headsets and Mohan serving as a tech lead at Nuro, an autonomous delivery startup.