Cognition raises $1B at $25B valuation as AI coding agent Devin hits $492M ARR
By
Elena Marchetti
Crisp on the outside, thoughtful on the inside. A keeper.
Summary
Cognition, the company behind the AI coding agent Devin, raised $1 billion at a $25 billion pre-money valuation. Devin has reached $492 million in annualized recurring revenue, up from $37 million at the start of 2025 and just $1 million in September 2024. Notably, over 90% of Cognition's own codebase is now written by Devin itself. The company employs a model-agnostic architecture, allowing it to use various AI models rather than being locked into a single provider.
Key quotes
· 3 pulledOver 90% of the company's own codebase is now written by the AI agent it sells to enterprise customers.
Devin's ARR was $1 million in September 2024.
When a company reports $492 million in annualized revenue after starting 2025 at $37 million, the numbers are harder to dismiss.
You might also wanna read
Cognition launches Devin for Terminal: a local command-line AI coding agent
Devin by Cognition launches "Devin for Terminal," a local command-line coding agent with deep cloud integration that can be set up in 2 minu
Product Hunt·1mo ago
Devin 1.2 by Cognition: AI Coding Agent Adds Voice Control, Enhanced Reasoning, and Terminal CLI
Devin 1.2 by Cognition is the latest update to the AI software engineering assistant. Key improvements include enhanced in-context reasoning
Product Hunt·1mo ago
Anthropic Raises $13 Billion at $183 Billion Valuation After Rapid Revenue Growth
Anthropic, the AI startup behind Claude and a major competitor to OpenAI, has completed a $13 billion funding round, achieving a $183 billio
The Verge·9mo ago