Cognition raises over $1 billion at a $26 billion valuation, reaching a $492 million annual revenue run-rate
The Devin creator's enterprise usage grew tenfold this year.
#704Scott Wu@SCOTTWU46Grateful for our customers, investors, partners, and most of all for our incredible team. Hard to believe it's only been two years.
Still a long way to go to build the future of software engineering - we are hard at work every day on making Devin even better! If you haven’t tried it in a bit, check it out and let us know what you think: http://devin.ai
Cognition@cognition1/ We’ve raised over $1B at a $26B valuation, led by @Lux_Capital, @generalcatalyst, and @8vc. Our enterprise usage has grown >10x since the start of this year, and our run-rate revenue grew to $492 M. We launched Devin two years ago as the first AI software engineer. Since then, cloud agents have gone from niche to mainstream, and today they are the fastest growing way to create software.
Another great win for agentic coding.
Cognition AI just raised over $1B at a $26B pre-money valuation.
Revenue reportedly climbed from $37M in annualized run-rate to $492M, while customers like Goldman Sachs and Mercedes-Benz suggest Devin is moving from demo rooms into production workflows.
Cognition's progress is driven by its flagship product, Devin, which aims to function as an autonomous junior engineer, going beyond typical coding assistants. Devin can plan, test, and deploy code through multi-step workflows in secure environments.
Cognition combines its own models with OpenAI and Anthropic rather than relying on one model.
Cognition is basically pitching Devin as a model-agnostic agent layer: the LLM does the reasoning and code generation, while Devin supplies the engineering workspace, repo context, terminal access, file edits, tests, and model choice around it.
Last July, Cognition agreed to buy the remains of coding startup Windsurf after Google struck a $2.4 billion deal for Windsurf’s top talent and licensing rights.
#1252Yash Patil@YPATIL125Huge congrats to the team! Relentless execution and focus ftw
Cognition@cognition1/ We’ve raised over $1B at a $26B valuation, led by @Lux_Capital, @generalcatalyst, and @8vc. Our enterprise usage has grown >10x since the start of this year, and our run-rate revenue grew to $492 M. We launched Devin two years ago as the first AI software engineer. Since then, cloud agents have gone from niche to mainstream, and today they are the fastest growing way to create software.
#1539Josh Wolfe@WOLFEJOSHOne of the most brilliant teams Lux has continued to invest more to fuel them in every round possible!
Thank you @ScottWu46 for your talent magnetism as a founder leader and for the bar of brilliance and momentum you’ve set for @cognition !
Cognition@cognition1/ We’ve raised over $1B at a $26B valuation, led by @Lux_Capital, @generalcatalyst, and @8vc. Our enterprise usage has grown >10x since the start of this year, and our run-rate revenue grew to $492 M. We launched Devin two years ago as the first AI software engineer. Since then, cloud agents have gone from niche to mainstream, and today they are the fastest growing way to create software.
#1557Vipul Ved Prakash@VIPULVEDJust a few years ago, before anyone was talking about AI's impact on software engineering, @ScottWu46 came by to show an early demo of Devin. It's incredible how everything has turned out in almost exactly the way Scott saw it in 2023. Congratulations to @cognition!
Cognition@cognition1/ We’ve raised over $1B at a $26B valuation, led by @Lux_Capital, @generalcatalyst, and @8vc. Our enterprise usage has grown >10x since the start of this year, and our run-rate revenue grew to $492 M. We launched Devin two years ago as the first AI software engineer. Since then, cloud agents have gone from niche to mainstream, and today they are the fastest growing way to create software.
#1906Walden@WALDEN_YANIt’s crazy riding this exponential. And somehow it’s only accelerating faster. It’s the age of cloud agents, and if you haven’t tried Devin in a while, it’s gotten a lot better.
Oh and we raised $1B to keep making Devin better!
#1941ben hylak@BENHYLAKi am very bullish on cognition
Cognition@cognition1/ We’ve raised over $1B at a $26B valuation, led by @Lux_Capital, @generalcatalyst, and @8vc. Our enterprise usage has grown >10x since the start of this year, and our run-rate revenue grew to $492 M. We launched Devin two years ago as the first AI software engineer. Since then, cloud agents have gone from niche to mainstream, and today they are the fastest growing way to create software.