Cognition Raises $1B at $25B Valuation — Major Backing for AI Coding

Friends — quick update from the AI space: Cognition raised $1B at a $25B pre‑money valuation. The round was led by Lux Capital and General Catalyst, with participation from existing and new backers including Founders Fund, 8VC, Ribbit, Atreides and Layer Global. Cognition builds autonomous AI engineer Devin; clients include Mercedes‑Benz, NASA and Goldman Sachs. Company reports ARR of $492M; Devin usage has grown ~50% month‑over‑month for the past six months. Eight months ago, after a $400M round, valuation was $10.2B. Why it matters: major VCs validate demand for independent AI tools that automate software development. Do you think independent AI tools can compete with offerings from large vendors? #AI #startups #investment #development