San Francisco-based AI coding startup Cognition raised more than US$1 billion at a US$25 billion pre-money valuation.

Lux Capital and General Catalyst led the round.

Cognition’s previous financing, a US$400 million round in September, valued the company at US$10.2 billion post-money.

Cognition describes Devin as an AI software engineer that can plan and execute multi-step coding tasks in a sandboxed environment with its own shell, browser, and code editor.

It also said Devin resolved 13.86% of SWE-bench software engineering benchmark issues end to end.

Cognition said companies and institutions including Mercedes-Benz, NASA, Goldman Sachs, and Santander use Devin. It also said it reached a US$492 million annualized revenue run rate.

Public customer material suggests usage has moved beyond pilot projects. Nubank said Devin helped automate a large extract, transform, and load migration.

The funding reflects growing investor interest in AI coding startups as companies race to build enterprise AI developer tools.

🔗 Source: TechCrunch

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