AI startup Cognition raises over $1 billion, valuation climbs to $25 billion

Odaily reported that AI programming startup Cognition has announced a new funding round of over $1 billion, with its pre-money valuation rising to $25 billion — doubling its post-money valuation of $10.2 billion from just eight months ago.

This round was led by Lux Capital and General Catalyst, with continued participation from Founders Fund and 8VC. New investors including Ribbit Capital, Atreides, and Layer Global also joined.

According to official data, the company's AI programmer product Devin has achieved 50% month-over-month growth in enterprise user adoption over the past six months. Cognition's current annualized recurring revenue (ARR) stands at $492 million. Its clients include major institutions such as Mercedes-Benz, NASA, Goldman Sachs, and Santander.

Facing competition from native AI coding tools like Anthropic Claude Code, OpenAI Codex, and Google Jules, Cognition stated that Devin's continued growth and the acquisition of Windsurf's assets demonstrate that independent AI programming agents still have significant commercial potential.