AI Coding Startup Cognition Lands $1B Round at $25B Valuation
Cognition, the AI startup behind the coding assistant Devin, has closed a $1 billion funding round at a $25 billion pre-money valuation, according to the company.
The latest investment brings the company's valuation to $25 billion pre-money—more than double the roughly $12 billion valuation it achieved during a previous raise roughly eight months ago.
The company also disclosed that it reached $492 million in annualized revenue run rate, a metric that annualizes its most recent monthly recurring revenue figures. The rapid valuation growth and strong revenue metrics position Cognition among the most valuable private AI companies globally.