Cognition AI, the developer of the much-discussed "worlds first AI software engineer" Devin, has closed a new funding round of approximately $400 million. According to Bloomberg, the deal, led by Peter Thiels Founders Fund, has raised the companys valuation to $10.2 billion, more than double its $4 billion valuation earlier this year. This funding round highlights the unabated appetite of venture capitalists for "agentic" AI—systems capable of autonomously performing complex tasks. Cognition has demonstrated explosive annual recurring revenue (ARR) growth from $1 million in September 2024 to $73 million by June 2025. The company plans to use the raised funds to expand its engineering team, purchase computing power, and actively promote its products in the enterprise market, intensifying competition with GitHub Copilot (Microsoft) and other developer tools.
Cognition AI Raises $400 Million at a $10.2 Billion Valuation
