Cognition AI is in early discussions to raise funding at a valuation of around $25 billion, which is more than twice its current $10.2 billion valuation, according to Bloomberg. The terms are still being worked out and could change.
The announcement comes a few months after raising over $400 million in fresh funding led by Founders Fund.
The AI coding startup was founded in late 2023 by Scott Wu, Steven Hao, and Walden Yan to build an autonomous AI software engineer, called Devin, that can handle projects from start to finish, including writing, testing, and deployment.
Cognition has grown quickly, even compared to other AI startups. In July 2025, it bought Windsurf, its product Devin grew annual recurring revenue from $1 million in September 2024 to $73 million by June 2025, according to VentureBeat. This growth attracted investors, and the acquisition made the company even bigger.
Since buying Windsurf, Cognition’s annual recurring revenue has more than doubled, according to CNBC. This growth gives the company a strong revenue base that, by typical AI software standards, supports a $25 billion valuation.
If Cognition completes a $25 billion funding round, it would become one of the most valuable AI coding companies in the world.
