CodiumAI exits stealth with $11 million to usher in the era of generative AI-powered Code Integrity

CodiumAI generates meaningful software tests on the fly, improves code quality, and empowers developers to innovate faster with confidence

TEL AVIV, Israel, March 22, 2023 /PRNewswire/ -- CodiumAI today announced the beta-release of its generative AI-powered code integrity solution that interactively assists developers in testing their code, and an $11 million Seed funding co-led by Vine Ventures and TLV Partners alongside notable angel investors including executives from OpenAI, Snyk and VMware. With this funding, CodiumAI is developing its first AI model, dubbed TestGPT.

Software of questionable quality cost US companies alone $2.08 trillion in 2020^[1]. As errors move through the software development lifecycle, the cost of addressing them compounds. Preventing software errors is better than fixing them, and the best way to prevent errors is to test often and thoroughly. But testing is hard and consumes a significant part of developers' time. While most developers find code reviews very valuable, only some test their own code^[2].

"Developers have a love-hate relationship with writing tests for their code. They love the quality it brings, but hate spending time on this. CodiumAI is here to change that, offering free auto-generated software test suite suggestions to developers, starting with Python, JavaScript and TypeScript. We help developers eradicate bugs and code with confidence," said CodiumAI CPO and co-founder Dedy Kredo.

"In the last few months we have witnessed the rise of coding assistants like GitHub Copilot and the explosion of ChatGPT. We work on the confluence of these developments, fine-tuning generative AI for testing code logic. CodiumAI IDE Extensions, and our TestGPT model, are the first steps towards our mission: making code integrity feasible, for any code and all developers!" said CodiumAI CEO and co-founder Itamar Friedman.

Friedman and Kredo are serial entrepreneurs with backgrounds in software development, machine learning and product management. They founded and exited startups and led product and R&D teams at the likes of Alibaba Cloud. They started CodiumAI to address a chronic pain point they have dealt with throughout their careers: verifying and validating code.

CodiumAI is currently available as an extension for popular IDEs (Integrated Development Environments) such as VSCode, PyCharm and WebStorm. Coverage for more IDEs and programming languages is planned for the immediate future, as well as support for additional features and collaborations. CodiumAI has already been installed by thousands of users since its closed-alpha-release in January 2023.

"CodiumAI is addressing a real need in the market. There are already tools to check software vulnerabilities, other tools to test performance, and now even tools that help developers generate code. But a solution for testing code logic is missing, and it is not a coincidence, as it is a very challenging task – it is almost like getting into the mind of the one who wrote the code. CodiumAI is a creative, targeted and focused use of generative AI and an application that provides value immediately," said Brian Sack, an Investor at TLV Partners.

"Generative AI has its own stack composed of infrastructure, models, and applications. It's a nascent domain and the jury on where and how value creation happens is still out. What we do know is that delivering versatile technology paired with UI/UX that is purpose built for the user workflow definitely helps. CodiumAI not only offers an innovative application, but also builds IP in the model layer. We are excited to see the team and product adoption grow; and look forward to a bright future bringing tremendous value to users," said Dan Povitsky, Vine Ventures' co-founder.

About CodiumAI
CodiumAI is a rapidly growing code integrity solution provider that analyzes code and generates meaningful tests to catch bugs before they reach production. Headquartered in Israel, CodiumAI is funded by world-renowned investors such as TLV Partners and Vine Ventures as well as angel investors from Snyk, OpenAI, and VMware. For more information, visit codium.ai.

About TLV Partners
TLV Partners is a Tel-Aviv based venture capital firm investing in early-stage startups and partnering with innovative entrepreneurs to build successful category-defining companies. With nearly $1 billion in assets under management, TLV Partners invest in a wide range of domains, including, data, AI, cybersecurity, DevTools, Fintech, Biotech, eCommerce and more. Since 2015, the firm has backed some of the most promising companies in Israel, including Aqua Security, Silverfort, Next Insurance, Unit, Firebolt, Granulate (acquired by Intel), Oribi (acquired by Linkedin) and more.

About Vine Ventures
Founded in June 2020 by Eric Reiner and Dan Povitsky, Vine Ventures has raised over $243M from two funds and several portfolio co-investments. Vine invests in technology companies across the US, Israel, and Latin America; and has led and participated in funding rounds for 30 companies in under three years. Eric and Dan bring their experience of multi-stage investing from Insight Partners and TA Associates to pre-Seed through Series A rounds. Both in their early 30s, they represent a new generation of venture capitalists who share the values, mindset, and worldview with their founders.

Media Contact
Lazer Cohen
lazer@concrete.media

^[1]The Cost of Poor Software Quality in the US: A 2020 Report, by the Consortium for Information and Software Quality

^[2] GitLab DevSecOps Survey Results 2022

SOURCE CodiumAI