Cognition, the makers of the autonomous AI software program engineer named Devin, has raised greater than $1 billion at a $25 billion pre-money valuation, the corporate introduced on Wednesday.
That’s a serious leap from its $10.2 billion post-money valuation when it closed a $400 million funding round simply eight months in the past in September.
The spherical was led by Lux Capital and Normal Catalyst, with present buyers pouring in, together with Founders Fund, 8VC, and others. The spherical additionally included new buyers Ribbit Capital, Atreides, and Layer World.
This can be a big vote of confidence from top-tier VCs that there can be room for unbiased AI software program coding startups. Final yr, all indicators pointed to mannequin makers swallowing this sizzling market themselves. Definitely Anthropic’s Claude Code, OpenAI’s Codex, and possibly even Google’s coding agent Jules, (after Google’s acqui-hire deal of Windsurf final yr), have captured loads of it.
However Cognition, which acquired the remaining bits of Windsurf last year, says it counts huge enterprises like Mercedes-Benz, NASA, Goldman Sachs, and Santander as clients. It additionally says it’s reached $492 million in annualized income run-rate as enterprise utilization of Devin has grown 50% month over month for the previous six months.
