Artificial intelligence coding assistant startup Cognition AI Inc. is reportedly engaged in discussions with investors over another massive funding round that would more than double its valuation to $25 billion, Bloomberg reported today.
The report cites “people familiar with the matter” as saying that Cognition is trying to tap into the growing momentum around AI-generated code that’s primarily driven by competitors such as Anthropic PBC and OpenAI Group PBC. Bloomberg did not offer an exact number for the proposed round, but said Cognition is looking to raise “hundreds of millions of dollars or more.” No investors were named, and the discussions are still ongoing, meaning that the terms of any deal could still change.
Cognition is best known for its AI programming assistant Devin, which burst onto the scene in a big way in March 2024, helping to accelerate the “vibe coding” trend. At the time, the startup claimed Devin was the world’s first “fully autonomous AI software engineer,” rather than a simple coding tool. It’s designed to plan and execute complex engineering tasks by automating the code creation, debugging and even the deployment process. Before Devin carries out any task specified by its users, it will generate a step-by-step blueprint that lays out exactly what it will do to perform the work requested. It also offers a “confidence score” to let users know how likely it is that the code will actually be usable once it’s generated. Developers can use these insights to decide if it’s worthwhile going ahead with the plan.
Cognition says Devin also takes comprehensive steps to minimize the number of bugs that creep into its AI-generated code, and then carefully scans its work afterwards to see if anything slipped through the cracks. It runs multiple tests on all of the code it creates, checking for different kinds of bugs and vulnerabilities.
Individual developers can access the standard version of Devin, while large organizations can pay extra to use an enhanced, enterprise-grade version of the autonomous software engineer. This subscription-based offering enables companies to create customized versions of Devin by feeding it with their own data, so it can automate more specialized software engineering tasks. The enterprise version also has additional security features and an audit log. Its customers include technology giants like Dell Technologies Inc., Cisco Systems Inc. and many others.
Cognition last raised money in September,, when it closed on a $400 million funding round led by Founders Fund with backing from Lux Capital, 8VC, Elad Gil, Definition Capital and Swish Ventures. That round increased its valuation to $10.2 billion, up from $4 billion in March 2025.
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