Cognition, the startup behind the autonomous AI software engineer Devin, has raised more than $1 billion in new funding at a $25 billion pre-money valuation.
The round was led by Lux Capital and General Catalyst, with participation from existing investors including Founders Fund and 8VC, alongside new backers such as Ribbit Capital and Atreides Management.
The funding marks a sharp increase from Cognition’s $10.2 billion valuation just eight months earlier, highlighting continued investor enthusiasm around AI-powered software development tools.
Cognition said enterprise adoption of Devin has accelerated rapidly, with annualized revenue reaching approximately $492 million and usage growing 50% month-over-month over the last six months.
The company counts major organizations including Mercedes-Benz, NASA, Goldman Sachs, and Santander among its customers.
Cognition has emerged as one of the leading independent AI coding startups despite intensifying competition from major model providers such as Anthropic, OpenAI, and Google, all of which have launched increasingly advanced AI coding agents and developer tools.
The company also strengthened its position last year through the acquisition of remaining assets from Windsurf, further consolidating capabilities in the rapidly growing AI-assisted software engineering market.
