Cognition AI
Category: AI Agents
Devin is an autonomous AI agent designed to function as a software engineer. It can understand high-level human instructions, plan and execute complex engineering tasks, learn new technologies, and collaborate with human developers by reporting on its progress in real-time. Cognition AI was founded in 2023. The company is led by Scott Wu. Based in San Francisco Bay Area & New York, USA. Team size: 51-200. Total funding raised: $1.696B+. Latest round: Series D. Key investors include Founders Fund, Lux Capital, General Catalyst, 8VC, Elad Gil, Patrick Collison, John Collison, Daniel Gross, Tony Xu, Alpha Wave, Definition Capital, Positive Sum, Avenir, Vitruvian, Bain Capital Ventures, Conversion Capital, 137 Ventures, Soma Capital, Omri Casspi, Ribbit Capital, Atreides, Layer Global.
AMW Analysis
Cognition AI develops Devin, an autonomous AI agent that functions as a software engineer, automating end-to-end tasks from coding to deployment. Recent news shows rapid scaling: the company raised over $1 billion in a Series D round co-led by Lux Capital, General Catalyst, and 8VC, reaching a $26 billion valuation and disclosing $492 million in annual revenue. This round followed a prior valuation of $10.2 billion eight months earlier. Cognition also acquired the consumer AI assistant startup Poke in a low nine-figure deal to enhance Devin’s conversational interface, and earlier acquired Windsurf’s enterprise assets, which doubled its recurring revenue by integrating Devin into a native IDE. The funding and acquisition activity indicate strong enterprise demand for autonomous coding agents and a strategy to expand Devin’s capabilities and market reach. Cognition’s trajectory reflects a focus on scaling revenue and product breadth through both organic growth and strategic acquisitions.
AMW analysis, generated from 5 tracked news signals.
- Founded
- 2023
- Headquarters
- San Francisco Bay Area & New York, USA
- Team size
- 51-200
- Total funding
- $1.696B+
Value proposition
Automates end-to-end software development tasks, from coding and debugging to deployment, significantly increasing developer productivity and enabling teams to tackle more ambitious projects.
Products and solutions
Devin, Windsurf, DeepWiki
Unique value
Created the first widely recognized autonomous AI software engineer (Devin) that can independently handle entire development projects. It set a new record on the SWE-bench coding benchmark, resolving 13.86% of real-world GitHub issues end-to-end without assistance.
Target customer
Software development teams and large enterprises seeking to accelerate development cycles and augment their engineering workforce.
Industries served
Technology, Financial Services
Technology advantage
Proprietary advances in long-term reasoning and planning allow its agent, Devin, to execute complex engineering tasks requiring thousands of decisions and learn over time.
How they differentiate
Positions itself as a true autonomous agent managing entire workflows, unlike competitors that function primarily as assistive co-pilots for code completion or generation.
Main competitors
GitHub Copilot, Replit Ghostwriter, Magic.dev, Poolside AI
Key partnerships
Goldman Sachs, Citi, Mercedes-Benz, Santander, Dell, Elevance, NASA, U.S. Army, U.S. Navy, Infosys, Cognizant, Itaú, Microsoft Azure
Notable customers
Goldman Sachs, Citi, Mercedes-Benz, Santander, Dell, Elevance, NASA, U.S. Army, U.S. Navy, Infosys, Cognizant, Itaú, Exa, Modal, Eight Sleep, OpenRouter
Major milestones
Launched Devin, the first autonomous AI software engineer, in March 2024., Secured a $21 million Series A round led by Founders Fund., Raised an additional $175 million at a $2 billion valuation., Initiated pilot programs with major enterprises like Goldman Sachs., Launched Devin 2.0 with agent-native IDE in April 2025., Acquired Windsurf, the agentic IDE, in July 2025., Reached $10B valuation in September 2025., Raised over $1B in Series D at $26B valuation in May 2026., Reached $492M annualized revenue run-rate.
Growth metrics
Achieved $2B valuation within a month of launch. Grew to $10B by Sep 2025, then $26B by May 2026. ARR grew from $37M (May 2025) to $492M (May 2026). Enterprise usage grew >10x since start of 2026.
Market positioning
Pioneer and market leader in autonomous AI software engineering. Achieved $26B valuation, $492M ARR, and serves Fortune 500 enterprises, government agencies, and fast-growing startups globally.
Geographic focus
Global
Patents and IP
Information not publicly available
About Scott Wu
Scott Wu is a seasoned entrepreneur and competitive programmer. He co-founded Cognition AI in 2023, serving as its CEO. Before Cognition, he co-founded and was the CTO of Lunchclub from 2017 to 2022. He also has experience as a software engineer at Addepar. His background in economics from Harvard University and his achievements in competitive programming, including multiple gold medals at the International Olympiad in Informatics, have shaped his career in AI and technology.
Latest news about Cognition AI
- Cognition AI Rebuffs SpaceX Acquisition Approach After $60 Billion Cursor Deal
- Cognition Says It Is Not for Sale After Reported SpaceX Acquisition Outreach
- Cognition's Devin Hits ~$1B ARR, $40B Valuation Overtakes Cursor
- Cognition eyes $1B raise at $40B valuation, marking a 54% increase in two months
- Cognition acquires AI assistant startup Poke in low nine-figure deal to boost Devin's personality
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Official website: https://cognition.ai
