Cognition AI Inc., an AI-powered coding tools company, has raised new funding, boosting its valuation to nearly US$4 billion.

The round was led by 8VC, a venture capital firm associated with Joe Lonsdale. Existing investors, including Founders Fund, Khosla Ventures, Elad Gil, and Conviction Partners, also participated.

This doubles the company’s valuation from US$2 billion last year, as reported by PitchBook.

Founded in 2023 by Scott Wu, Steven Hao, and Walden Yan, Cognition AI launched its generative AI coding tool, Devin, in 2024. The tool automates code generation and debugging to aid software engineers.

The funding comes as investor interest in AI coding assistants surges, with competitors like GitHub Copilot, Amazon’s CodeWhisperer, and startups such as Anysphere and StackBlitz also raising significant capital.