Cognition Secures $1 Billion Funding Round, Reaching $25 Billion Pre-Money Valuation

Cognition, the company behind the autonomous AI software engineer Devin, has raised more than $1 billion in a new funding round, reaching a $25 billion pre-money valuation and approximately $26 billion post-money, the company announced Wednesday.

The valuation represents a sharp increase from September last year, when Cognition raised $400 million at a $10.2 billion post-money valuation.

The latest round was led by Lux Capital, General Catalyst, and 8VC, with participation from existing investors including Elad Gil, Soma Capital, Omri Casspi, and Founders Fund. New investors such as Ribbit Capital, Atreides, and Layer Global also joined the financing.

The investment signals continued confidence in independent AI coding startups despite increasing competition from major AI companies. Over the past year, products such as Anthropic's Claude Code, OpenAI's Codex, and Google's coding tools have intensified the race to dominate AI-powered software development.

Cognition has continued to expand its market position, including through its acquisition of Windsurf's remaining assets last year. The company says its customer base includes major organisations such as Mercedes-Benz, NASA, Goldman Sachs, and Santander.

According to Cognition, enterprise adoption of Devin has been growing rapidly, with usage increasing 50% month over month during the last six months. The company also reports an annualised revenue run rate of approximately $492 million.

The latest funding round further strengthens Cognition's position in the fast-growing AI software engineering sector as businesses increasingly adopt autonomous coding tools to improve productivity and accelerate development workflows.