AI coding startup Cognition raises $1B at $25B pre-money valuation

Source: TechCrunch

Image Credit: Cognition

Cognition, the maker of the autonomous AI software engineer Devin, announced that it has raised more than $1 billion at a $25 billion pre‑money valuation.

Funding round

• Amount raised: > $1 billion
• Pre‑money valuation: $25 billion
• Previous valuation: $10.2 billion post‑money after a $400 million round in September 2025 (source)

Lead investors

• Lux Capital
• General Catalyst

Existing investors participating

• Founders Fund
• 8VC
• Others

New investors

• Ribbit Capital
• Atreides
• Layer Global

Market context

The round signals strong confidence from top‑tier venture capitalists that independent AI coding startups can thrive, even as major model makers—Anthropic’s Claude Code, OpenAI’s Codex, and Google’s upcoming coding agent Jules (following Google’s acqui‑hire of Windsurf) — dominate the space.

Recent acquisitions

• Cognition acquired the remaining assets of Windsurf in 2025 (TechCrunch article).

Customers and revenue

Cognition reports enterprise customers that include:

• Mercedes‑Benz
• NASA
• Goldman Sachs
• Santander

The company claims an annualized revenue run‑rate of $492 million, driven by a 50 % month‑over‑month growth in Devin usage over the past six months.