Vibe coding startup Cognition more than doubles valuation in new $1B+ round
Cognition Inc., a provider of artificial intelligence programming tools, today announced that it has raised more than $1 billion in funding.
Lux Capital, General Catalyst and 8VC led the Series D round with contributions from more than a dozen others. The deal values Cognition at $26 billion, about $16 billion more than what it was worth in September.
The company disclosed at the time of its previous raise that it annualized recurring revenue stood at $73 million last June. According to Cognition, that number has since grown to $492 million. The company partly credits the jump to a tenfold increase in enterprise usage of its products since the start of the year.
Cognition’s flagship offering is a cloud-based AI agent called Devin. According to the company, it’s capable of automating most programming tasks that a single developer could complete in three hours. It can also take on more complex work if users split the project into sub-tasks. According to Cognition, Devin enabled Mercedes-Benz Group AG to complete a code modernization initiative that would have normally taken eight months in eight days.
