AI coding startup Cognition raises $1B at $25B valuation, up from $10.2B eight months ago
Hard to chew. Probably not worth the jaw work.
Summary
AI coding startup Cognition, maker of the autonomous software engineer Devin, raised over $1 billion at a $25 billion pre-money valuation — a massive jump from its $10.2 billion post-money valuation just eight months prior. The round was led by Lux Capital and General Catalyst, with participation from existing investors like Founders Fund and 8VC, plus new investors including Ribbit Capital, Atreides, and Layer Global. Cognition reports $492 million in annualized revenue run-rate and counts enterprise customers such as Mercedes-Benz, NASA, Goldman Sachs, and Santander. Enterprise usage of Devin grew 50% month over month for six consecutive months.
Key quotes
· 3 pulledCognition, maker of the autonomous AI software engineer Devin, raised more than $1 billion at a $25 billion pre-money valuation.
The valuation is a major increase from a $10.2 billion post-money valuation after a $400 million funding round eight months earlier.
Enterprise usage of Devin grew 50% month over month for six months.
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