Devin Creator Cognition Raises $400 Mn at $10.2 Bn Valuation

Cognition, the AI-driven software engineering startup, has raised over $400 million in a funding round led by Founders Fund, bringing its post-money valuation to $10.2 billion.

Founded last year, Cognition aims to revolutionise software engineering by enabling developers to focus on creative problem-solving while delegating routine tasks to autonomous AI agents. The company first launched Devin, an AI software engineer, in March 2024. Initially a “junior” engineer, Devin’s capabilities have rapidly expanded, helping individual developers and large enterprise teams alike.

Cognition recently acquired Windsurf, doubling its annual recurring revenue (ARR) and providing a complete AI coding product suite. By combining Devin’s agent-based automation with Windsurf’s AI-enhanced IDE, Cognition now supports a dual approach favored by engineers: accelerated decision-making via IDEs and fully delegated tasks via agents.

The company reports that enterprise ARR has grown over 30% in just seven weeks post-acquisition, serving top-tier clients including Goldman Sachs, Citi, Dell, Cisco, Ramp, Palantir, Nubank, and Mercado Libre.

Cognition’s founders emphasize the strength of their team, welcoming Windsurf’s employees, early investors Christian Lawless and Emily Cohen into full-time roles, and AI expert swyx to further drive innovation. With efficient growth and a robust product suite, Cognition is positioning itself at the forefront of the emerging AI coding revolution.

Existing investors, including Lux Capital, 8VC, Neo, Elad Gil, Definition Capital, and Swish VC, participated alongside new backers such as Bain Capital Ventures, Hanabi Capital, and D1 Capital.