Cognition AI goes against the trend, raising $400 million in financing and valuation of $10.2 billion
Source: CoinWorld
Time: 2025-09-09 02:58:39
Cognition AI, creator of AI coding agent Devin, has raised $400 million in funding, with a valuation of $10.2 billion, up from $4 billion earlier this year. This round of financing was led by Founders Fund and followed by Lux Capital, 8VC and others. Devin's annual recurring revenue surged from $1 million in September 2024 to $73 million in June, while net consumption has been below $20 million since its inception. The company recently laid off 30 employees and offered a buyout plan to the remaining employees due to reports that Devin required 80 hours a week.