Agentic AI company Cognition has secured $400 million in a new funding round from investors including Founders Fund, which led the round, and the likes of Lux Capital, 8VC and Elad Gil. The company has grown drastically in recent months, with this most recent move surging its valuation to $10.2 billion.
The company designed and built Devin, its flagship “AI software engineer.” The product is an intelligent tool capable of developing applications, triaging bugs and issues, optimizing app performance and other tasks. Cognition recorded continuous revenue increases since the solution’s launch in March 2024, including a jump from $1 million in recurring revenue in September 2024 to $73 million in June 2025.
Its recent acquisition of Windsurf furthered this momentum, enabling the company to complete its suite of products for AI coding, offering both integrated development environments and agents. Cognition’s growing user base now consists of names such as Goldman Sachs, Cisco, Palantir and Mercado Libre. The company nearly doubled its ARR since July, noting a 30 percent increase in combined enterprise revenue in the seven weeks following Windsurf’s addition to its ranks.
“We envision a world of software abundance where engineers become architects, solving the most challenging problems and focusing on their creative visions while tasking an army of autonomous agents to support them on everything else,” Scott Wu, Cognition’s co-founder and CEO, said in a company blog post.
The company is actively recruiting talent as it continues pursuing this vision at top speed. Cognition’s valuation has more than doubled compared to its valuation earlier this year of $4 billion, as reported by TechCrunch. This latest injection of funding follows immediately behind a $500 million round in August that valued it at $9.8 billion.
