tech
AI coding startup Cognition raises $1B at $25B pre-money valuation
As Cognition reaches $492 million in annualized revenue run rate, it more than doubled its valuation in eight months, it says.
TL;DR
- Cognition raised over $1 billion at a $25 billion pre-money valuation.
- This valuation is more than double its post-money valuation from eight months ago.
- The funding round was led by Lux Capital and General Catalyst, with participation from existing and new investors.
- This funding signals strong VC confidence in independent AI software coding startups.
- Cognition's customers include major enterprises like Mercedes-Benz, NASA, Goldman Sachs, and Santander.
- The company reported an annualized revenue run rate of $492 million, with enterprise usage growing 50% month-over-month.
- Cognition acquired the remaining parts of Windsurf last year.