Stack L8
Cognition
Devin maker at $10.2B; acquired Windsurf, piloting autonomous SWE agents at Goldman Sachs
HQ US
Fit Score
avg of 4 segmentsRecent Business Signals
Jun 1, 2026
funding
Cognition raised over $400 million at a $10.2 billion post-money valuation, led by Founders Fund with new investors Bain Capital Ventures, Hanabi Capital, and D1 Capital.
source: funding-research
May 27, 2026
funding
Cognition raised $1 billion at a $26 billion valuation, co-led by Lux Capital, General Catalyst, and 8VC, with participation from Ribbit Capital, Atreides Management, and Founders Fund.
source: funding-research
May 27, 2026
funding
Cognition AI raised over $1B in Series D co-led by Lux Capital, General Catalyst, and 8VC at a $26B post-money valuation ($25B pre-money).
source: funding-research
May 27, 2026
funding
Cognition raised over $1 billion in a Series D round at a $26 billion post-money valuation, led by Lux Capital, General Catalyst, and 8VC.
source: funding-research
May 27, 2026
funding
Cognition AI closed a funding round of more than $1B led by Lux Capital, General Catalyst, and 8VC at a $26B post-money valuation on May 27, 2026.
source: funding-research
Funding & valuation history
Jun 1, 2026 · funding-research
Cognition raised over $400 million at a $10.2 billion post-money valuation, led by Founders Fund with new investors Bain Capital Ventures, Hanabi Capital, and D1 Capital.
May 27, 2026 · funding-research
Cognition raised $1 billion at a $26 billion valuation, co-led by Lux Capital, General Catalyst, and 8VC, with participation from Ribbit Capital, Atreides Management, and Founders Fund.
May 27, 2026 · funding-research
Cognition AI raised over $1B in Series D co-led by Lux Capital, General Catalyst, and 8VC at a $26B post-money valuation ($25B pre-money).
May 27, 2026 · funding-research
Cognition AI closed a funding round of more than $1B led by Lux Capital, General Catalyst, and 8VC at a $26B post-money valuation on May 27, 2026.
May 27, 2026 · funding-research
Cognition raised over $1 billion in a Series D round at a $26 billion post-money valuation, led by Lux Capital, General Catalyst, and 8VC.
Sep 12, 2025 · ai_synthesis_sdk
Cognition raised roughly $400 million in a round reportedly led by Founders Fund that valued the Devin maker at about $10.2 billion, up sharply from its earlier ~$4B valuation.
Sep 8, 2025 · funding-research
Cognition AI raised a $400M Series C led by Founders Fund at a $10.2B post-money valuation.
Sep 1, 2025 · funding-research
Cognition raised over $400 million at a $10.2 billion post-money valuation in a round led by Founders Fund.
Jul 14, 2025 · ai_synthesis_sdk
Cognition acquired AI coding IDE Windsurf — including its product, brand, IP and remaining ~250 employees — just days after Google took Windsurf's CEO and top researchers; Windsurf brought roughly $82M in ARR and 350+ enterprise customers.
Jul 1, 2025 · funding-research
Cognition AI acquired Windsurf, an agentic IDE, in July 2025, an event that more than doubled the company's ARR and pushed its revenue run-rate to $492M post-close.
Strategic Position
What they do best
Selling autonomous agentic SWE (Devin) into high-value enterprises, evidenced by the Goldman Sachs pilot (signal 17459433) targeting thousands of agents.
Their bet
That latency wins agentic coding — SWE-1.5 on Cerebras at 950 tok/s plus SWE-grep ~20x retrieval (signals ee38c466, 5e8274f1) make speed, not raw accuracy, the moat.
Top risk
The Goldman Sachs pilot (signal 17459433) may not convert to paid hundreds-to-thousands of Devin seats within 6 months, leaving the $10.2B valuation propped up almost entirely by Windsurf's acquired ~$82M ARR.
Compared to peers
Direct competitor
Cursor
Cursor monetizes per-seat AI-native IDE usage; Cognition sells autonomous Devin agents priced on work done, not seats occupied.
Substitute
Cursor
Cursor's IDE autocomplete/chat can substitute for low-complexity Devin tasks, capping Cognition's per-seat value claim where full autonomy isn't needed.
Why someone would join
- 1.Valuation jumped from ~$4B to ~$10.2B with a ~$400M Founders Fund round on 2025-09-12 (signal d83818b9), plus an inherited ~$82M ARR / 350+ enterprise base from the Windsurf buy.
- 2.Goldman Sachs (signal 17459433, 2025-07-11) is piloting Devin toward thousands of agents across ~12,000 developers — and hiring is concentrated in enterprise deployment/platform roles (3 of 5 recent reqs) to service it.
Recent Hiring (60 days)
- enterprise product management1
- developer platforms1
- security and compliance1
Reverse-Hype Watch
- !Capacity/perf claims unbacked by customer signals: SWE-1.5 'near-frontier coding accuracy at ~13x the speed' / 950 tok/s and SWE-grep '~20x faster' are vendor self-reported with no independent benchmark; flagship Goldman Sachs Devin use is a 'pilot scaling toward hundreds-to-thousands', not booked.
- !Stretched valuation: ~$10.2B post-money (2025-09-12) against only disclosed recurring revenue of ~$82M Windsurf ARR (~124x); Devin ARR undisclosed and Goldman pre-production (note: no layoffs reported, so not a classic up-round-with-burn).
- !Performance claims are vendor self-reported with no independent benchmark: SWE-1.5 'near-frontier coding accuracy at ~13x the speed', SWE-grep '~20x faster context gathering'; flagship Goldman Sachs Devin deployment is explicitly a 'pilot scaling toward' hundreds-to-thousands, so capacity claims are not yet backed by production customer signals.
- !Capacity claims unbacked: SWE-1.5 'near-frontier coding accuracy at ~13x the speed', SWE-grep '~20x faster context gathering' are vendor self-reported with no independent benchmark; flagship Goldman Sachs Devin deployment is still a 'pilot scaling toward' (not booked revenue).
- !Performance claims vendor self-reported with no independent benchmark: SWE-1.5 'near-frontier coding accuracy' at '~13x the speed', SWE-grep 'up to ~20x faster context gathering' — capacity/quality claims unbacked by third-party or customer validation.