Artificial intelligence startup Cognition reaches $48 billion valuation
Cognition, the developer of the coding assistant named Devin, has received a massive amount of new investment in a short time at a record valuation.
Cognition, the startup that developed the AI-powered coding assistant Devin, has officially announced that it has raised $2 billion in investment at a valuation of $48 billion.
Details and leaders of the investment round
Just four months after the startup's previous investment round at a $26 billion valuation, a new round was held. Prominent funds such as Andreessen Horowitz, Accel, Founders Fund, General Catalyst, and Avenir led this round.
Revenue growth and growth rates
Cognition shared with the public that its annualized revenue run rate has increased from $492 million to $900 million since its last investment announcement in May.
Founding process and the development of Devin
Cognition AI, which developed Devin, the world's first autonomous AI software engineer, was founded in San Francisco, USA, in November 2023 by Scott Wu, Steven Hao, and Walden Yan, achieving major success in 3 years.