Cognition AI, the startup behind AI coding agent Devin, raised $400 million and then scored a $10.2 billion valuation, and recorded a jump from the company’s $4 billion valuation earlier this year, Bloomberg reports.
The Founders Fund, a Peter Thiel Backed VC, led the latest round of Cognition with participation from existing investors such as Lux Capital, Joe Lonsdale’s 8VC, Elad Gil, Definition Capital and Swish Ventures.
In July, Cognition acquired AI coding startup Windsurf a few days after Google poached Startup CEO, co-founder and Research Leads.
Salary increases come after the serious growth of the core product of cognition. The startup’s annual recurring revenue from Devin rose to $73 million in June from $1 million in September 2024. Netburn has remained under $20 million since it was founded two years ago on each Bloomberg.
At the same time, the company has built a reputation for putting strict demands on workers. Last month, Awareness fired 30 staff members, providing shopping to the remaining 200 employees, providing a way to expect to work 80 hours, six days a week.
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