Artificial intelligence startup Cognition has secured more than $1 billion in new funding, pushing the company’s valuation to approximately $25 billion before investment adjustments.

The company, known for developing the autonomous AI software engineer named Devin, announced the funding round amid growing investor confidence in AI-powered software development.

The latest valuation represents a sharp increase from the company’s previous valuation of $10.2 billion recorded less than a year ago.

The funding round was led by major investment firms including Lux Capital, General Catalyst, and 8VC, alongside contributions from several existing and new investors.

Cognition has gained attention within the technology industry for developing AI systems capable of performing software engineering tasks with minimal human supervision.

The company believes its products can significantly improve productivity for large organizations by automating portions of the software development process.

According to the company, enterprise demand for its AI tools has increased rapidly in recent months. Cognition disclosed that it currently serves major organizations including Mercedes-Benz, NASA, Goldman Sachs, and Santander.

It also claimed that usage of Devin has been growing by roughly 50 percent month after month over the past six months.

The company further revealed that it has reached an annualized revenue run rate of approximately $492 million.

Investors view the rapid growth as a sign that independent AI coding startups may still thrive despite increasing competition from larger technology companies developing their own coding assistants.

Technology analysts say the funding reflects growing confidence in the future of AI-driven software engineering, even as major players such as OpenAI, Google, and Anthropic continue to dominate much of the artificial intelligence market.

Source: TechCrunch