Cognition AI Inc., an artificial-intelligence startup focused on software development, raises more than $1 billion in a new funding round, valuing the company at about $26 billion. Multiple outlets report the valuation and that the deal is part of a Series D round announced May 27. TechCrunch adds that the valuation is described as roughly $25 billion on a pre-money basis. The company’s valuation has increased rapidly in recent months, according to TechCrunch, which says it more than doubled in about eight months, and TNW, which reports it rose from a prior valuation of $10.2 billion in a September round. The funding is intended to expand Cognition’s AI software engineer product, “Devin,” according to PYMNTS, which says the company plans to use the proceeds to further develop that offering. Coverage also notes broad investor participation: TNW reports the round is co-led by Lux Capital, General Catalyst, and 8VC, with additional participation from Ribbit Capital, Atreides Management, and Peter Thiel’s Founders Fund. Overall reporting emphasizes investor demand for AI tools used for coding and software engineering.
Cognition raises $1 billion in Series D, valuing AI coding startup at about $26 billion
Cognition AI Inc., an artificial-intelligence startup focused on software development, raises more than $1 billion in a new funding round, valuing the company at about $26 billion. Multiple outlets re...
- Cognition AI raises over $1 billion in a new funding round, described as a Series D.
- The company’s valuation is about $26 billion (reported as $26 billion and roughly $25 billion pre-money).
- The funding supports expansion of Cognition’s AI software engineer, “Devin.”
- The company’s valuation more than doubles over roughly the past eight months, rising from about $10.2 billion in a September round.
- The round is co-led by Lux Capital, General Catalyst, and 8VC, with additional investor participation reported by outlets.
Cognition AI has raised more than $1 billion in new funding at a $26 billion valuation, more than doubling its worth since a September round that valued the company at $10.2 billion. The round was co-led by Lux Capital, General Catalyst, and 8VC, with participation from Ribbit Capital, Atreides Management, and Peter Thiel’s Founders Fund. […] This story continues at The Next Web
3 months agoArtificial intelligence (AI) startup Cognition said it is now a $26 billion company. As the company said in its announcement Wednesday (May 27), Cognition reached that valuation after raising more than $1 billion in a new Series D funding round, financing it will use for its AI software engineer “Devin.” “We launched Devin two […] The post Cognition Raises $1 Billion to Expand AI-Powered Software Engineer appeared first on PYMNTS.com.
3 months agoCognition has raised more than $1 billion in a new funding round at a $26 billion valuation, the latest sign of strong demand for companies using AI for software development. Cognition CEO Scott Wu joins Caroline Hyde and Ed Ludlow on "Bloomberg Tech." (Source: Bloomberg)
3 months agoAs Cognition reaches $492 in annualized revenue run rate, it more than doubled its valuation in eight months, it says.
3 months agoCognition AI Inc. has raised more than $1 billion in a new funding round at a $26 billion valuation, the latest sign of strong demand for companies using artificial intelligence for software development.
3 months ago
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