According to the Wall Street Journal and others, Cognition AI completed around $500 million in August 2025 in round C, valued at $9.8 billion, double the $4 billion in March 2024. This round of financing was carried out by the Founders Fund, with the participation of existing investors, including 8VC and Khosla Ventures.
Cognition AI was established in 2023 with its flagship product Devin as an autonomous AI programming assistant capable of processing the entire software development cycle from planning, coding, testing to deployment, as distinct from the traditional line-by-line recommended tool such as GitHub Copilot. Devin achieved a 13.8 per cent completion rate in the SWE-Bench benchmark test, exceeding the large language models GPT-4 and Claude.
Cognition has also developed an ecosystem around Devin, which includes Multi Devin, a service that allows the management of AI to coordinate multiple AI agents at the same time, thus achieving parallel tasks for large and complex projects and faster delivery. The platform could be deployed in a secure, virtual, private cloud environment to ensure the protection of sensitive business data.
In July 2025, Cognition acquired the AI Code Generation Corporation Windsurf Inc., which integrates its technology, talent and more than 350 business clients, further enhancing Devin ‘ s functionality and market competitiveness. Although the amount of the purchase was not disclosed, Windsurf ‘ s previous annualized income (ARR) amounted to $82 million.
Cognition’s clients, including Goldman Sachs, Ramp, Nu Holdings and Bilt Rewards, show their attractiveness in the area of financial technology. However, the relatively low value of its income triggered a discussion of long-term profitability. Competing parties such as Anysphere (Cursor, valued at $9.9 billion) and Codeium (valued at $1.25 billion) are also accelerating, and the market for AI code generation is becoming increasingly competitive.
In the new round of financing, Cognition had previously received more than $300 million in venture capital. The exact amount is not yet known, as the company did not disclose the specific amount in the last round of March’s financing, reporting only that it valued $4 billion and that the amount was “billions of dollars”.
