tech
Cognition raises $1B at $26B valuation for AI coding agent
Cognition AI has raised more than $1 billion at a $26 billion valuation for Devin, its AI coding agent. Revenue grew from $37 million to $492 million in 12 months, with Goldman Sachs, Mercedes-Benz, and the US government among its customers.
TL;DR
- Cognition AI raised $1 billion at a $26 billion valuation, more than doubling its worth.
- Revenue grew from $37 million to $492 million in 12 months.
- Customers include Goldman Sachs, Mercedes-Benz, NASA, and parts of the US government.
- Its flagship product, Devin, is an AI agent designed to automate the programming process.
- More than 90% of Cognition's internal code is reportedly written by Devin.
- The company uses a mix of its own models and those from OpenAI and Anthropic.
- Cognition acquired remaining assets of coding startup Windsurf.
- New funding will be used to refine models, improve customer experience, and potentially make more acquisitions.