Cognition in talks to raise at a $10B valuation: Fortune

Cognition in talks to raise at a $10B valuation: Fortune

Cognition, the maker of the generative coding assistant Devin, is in talks to raise north of $300 million, valuing the AI startup at $10 billion, according to five people familiar with the deal. Founders Fund and Khosla Ventures are both involved in the deal, the people said [1]. This funding round would more than double Cognition’s valuation, only months after a funding round led by 8VC valued the company at $4 billion in March [2].

The deal comes after a whirlwind of acquisitions and rumors involving Cognition. For months, OpenAI had been rumored to be buying Windsurf, a rival AI coding startup. However, in a surprise announcement earlier this month, the startup’s founders announced that they had been acquired by a different entity [2].

Cognition's recent success and rapid growth have caught the attention of major venture capital firms. The company's Devin assistant has gained significant traction, particularly among developers seeking to streamline coding tasks. The high valuation reflects the growing demand for AI-driven coding solutions and the competitive landscape in the generative AI sector.

Despite the promising prospects, the deal is still in the finalization stages, and the terms could change. The successful completion of this funding round would position Cognition as a major player in the AI coding market, further solidifying its position against competitors like OpenAI.

References:
[1] https://fortune.com/2025/07/22/openai-os-war-microsoft-google-apple-platforms-jpmorgan-coverage/
[2] https://www.forbes.com/sites/richardnieva/2025/07/24/ai-coding-startup-cognition-is-in-talks-to-raise-at-a-10-billion-valuation/