Cognition Furthers Intense Growth Momentum With $400M Raise | Built In

Varun Mohan reports on Cognition's latest $400 million funding round that propelled the agentic AI company to a $10.2 billion valuation.

The company behind Devin, an AI software engineer capable of developing applications and triaging bugs, has experienced remarkable growth since launching in March 2024. Revenue surged from $1 million to $73 million in recurring revenue, while strategic acquisitions like Windsurf expanded their AI coding suite. Major clients including Goldman Sachs and Cisco demonstrate strong enterprise adoption.

• Secured $400M funding led by Founders Fund, more than doubling valuation from $4B earlier this year
• Revenue jumped from $1M to $73M in recurring revenue between September 2024 and June 2025
• Windsurf acquisition boosted enterprise revenue by 30% in seven weeks
• Growing client base includes Goldman Sachs, Cisco, Palantir, and Mercado Libre