tech
AI coding startup Cognition reportedly already in talks to raise at $40B valuation
Cognition may be looking to raise another mega round just a few months after raising $1 billion at a $26 billion valuation.
TL;DR
- Cognition, the maker of AI coding agent Devin, is in talks to raise more funds.
- The company is reportedly seeking a valuation of at least $40 billion.
- This follows a $1 billion funding round in May which valued Cognition at $26 billion.
- The potential new valuation is tied to achieving a $1 billion annualized revenue run rate.
- Devin is described as handling grunt-work tasks that programmers dislike, contributing to its adoption by enterprises.
- Customers include Mercedes-Benz, NASA, and Goldman Sachs.