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Home / Company / Cognition Labs
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Cognition Labs

Last Updated November 24, 2025

Cognition Labs (Cognition AI) is an applied AI lab focused on building autonomous agents that can perform substantive software engineering work, not just assist with code completion. Its flagship product Devin is positioned as an AI software engineer that can plan tasks, set up environments, write and test code, and iterate on fixes in a sandboxed workspace that includes a shell, code editor, browser, and persistent file system. Public reporting indicates that Devin’s annual recurring revenue grew from about $1 million in September 2024 to roughly $73 million by June 2025, making Cognition one of the fastest-scaling commercial AI application companies in its segment. In July 2025, the company acquired Windsurf, an AI-powered IDE and coding platform with tens of millions of dollars of ARR and hundreds of enterprise customers, bringing combined ARR into the ~$150 million range according to analyst estimates. In September 2025 Cognition raised approximately $400 million at a reported $10.2 billion valuation in a round led by Founders Fund, up from a roughly $4 billion valuation earlier in the year. The company positions itself as a reasoning-focused AI lab, arguing that success in autonomously handling complex software workflows is a leading indicator for AI’s ability to tackle other high-value, reasoning-heavy tasks over time.
Company Overview: Cognition Labs
From an informational standpoint, Cognition Labs represents a concentrated bet on the idea that autonomous AI agents can take over sizeable portions of software engineering workflows in the near to medium term. Software development is one of the largest categories of global IT spend, and even partial automation of repetitive or well-structured engineering work could unlock significant cost and speed advantages for adopters. Cognition’s strategy is to build a product that does end-to-end work—planning, coding, testing, debugging, and sometimes deployment—rather than incrementally improving code autocomplete. The company’s reported commercial metrics and funding trajectory signal strong investor confidence. Coverage of the business cites Devin’s ARR increasing from around $1 million to approximately $73 million in less than a year, with combined ARR (after acquiring Windsurf) estimated around $150–155 million by mid-2025. Valuation has scaled from roughly $4 billion in early 2025 to about $10.2 billion by September 2025 following a $400 million raise led by Founders Fund, with participation from Lux Capital, 8VC, and other institutional investors. At the same time, the opportunity is tightly coupled to execution and market structure. Cognition competes in a landscape that includes foundation model providers (who can build their own agents), incumbent coding tools, and other agent startups. The technical challenge of making agents reliable and safe enough for mission-critical workflows remains significant. Public reporting has also highlighted demanding internal work expectations and layoffs, which may affect hiring and retention over time. For observers evaluating the company, the key questions are whether Cognition can: (1) maintain product differentiation as underlying models improve across the industry; (2) turn early ARR into durable, high-retention enterprise relationships; and (3) scale its organization without losing the speed that produced its early trajectory. This summary is descriptive of business dynamics only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security.
Investment Highlights

Growth & Revenue Momentum

  • Public reporting indicates Devin’s annual recurring revenue (ARR) grew from roughly $1 M in September 2024 to about $73 M by June 2025, with cumulative net burn reportedly under $20 M since founding.
  • Following the acquisition of Windsurf (≈$82 M ARR, 350+ enterprise customers, per press reports), combined ARR was estimated around $150–155 M by mid-2025.
  • Year-over-year ARR growth into 2025 has been characterized by analysts as triple-digit and among the fastest in the agentic-coding segment.

Funding, Valuation & Backing

  • Raised a reported ≈$400 M in September 2025 at an estimated $10.2 B post-money valuation, led by Founders Fund with participation from Lux Capital, 8VC, and additional institutional investors.
  • Earlier 2025 financing reportedly valued the company around $4 B, with an intermediate August 2025 round near $9.8 B, implying >$1 B of primary capital raised across 2024–2025.
  • Backed by a set of well-known venture investors, which may assist with enterprise introductions, hiring, and later-stage financing access.

Product & Technology Positioning

  • Devin is positioned as an autonomous AI software engineer that can plan, code, test, debug, and sometimes deploy software in a sandboxed environment with shell, editor, browser, and persistent workspace.
  • On the SWE-bench benchmark of real-world GitHub issues, Cognition has reported Devin achieving 13.86% end-to-end resolution versus prior baselines near 2%, highlighting its focus on long-horizon reasoning.
  • Subsequent releases added features such as MultiDevin (multiple parallel agents), repository indexing, documentation generation, and enterprise-grade deployment options.

Strategic Acquisitions & Enterprise Footprint

  • Acquisition of Windsurf in July 2025 added an agent-native IDE, substantial ARR, and hundreds of existing enterprise customers.
  • Press reports indicate enterprise usage across sectors including finance and technology, with named customers such as Goldman Sachs, Dell Technologies, and Palantir in some coverage.
  • Enterprise-oriented features (e.g., virtual private cloud deployment, role-based access control, documentation tooling) support usage in regulated and security-sensitive environments.
Product & Technology Leadership

Devin: Autonomous AI Software Engineer

  • End-to-end workflow: Designed to handle planning, environment setup, coding, testing, debugging, and iteration for software tasks, rather than only producing code snippets.
  • Full toolchain access: Operates in a sandbox that includes a shell, code editor, browser, and persistent workspace, enabling multi-step workflows over time.
  • SWE-bench performance: Company reports 13.86% end-to-end resolution on the SWE-bench benchmark of real-world GitHub issues, significantly above prior baselines.

Agent Platform & Enterprise Features

  • MultiDevin: Support for multiple agents working in parallel on a project, often under a coordinating “manager” agent, enabling bulk refactors and large-scale codebase changes.
  • Planning & oversight: Interactive planning flows that allow human review and adjustment of Devin’s proposed plan before execution.
  • Repository intelligence: Indexing and documentation features (e.g., internal search/wiki tooling) to help agents and humans navigate large, complex codebases.
  • Enterprise deployment: Options for deployment in virtual private cloud environments and integration with existing security and compliance controls, based on public descriptions.

Windsurf Integration

  • Agent-native IDE: Windsurf brings an existing AI-first IDE and coding platform with its own enterprise customer base into Cognition’s product stack.
  • ARR & customers: Press reports attribute around $82 M ARR and 350+ enterprise customers to Windsurf at the time of acquisition.
  • Product synergy: The acquisition allows Cognition to combine an autonomous agent (Devin) with a mature IDE and delivery environment tailored for agentic workflows.

Research & Reasoning Focus

  • Reasoning-centric positioning: Cognition describes itself as a lab focused on reasoning, using software engineering as a proving ground for long-horizon planning and tool-use.
  • Agent architecture: Emphasis on agents that maintain context across multiple steps, interact with tools, and adapt plans based on feedback and test results.
  • Continuous iteration: Public communications highlight rapid model and product iteration, including new versions of Devin and ongoing improvements to reliability and coverage.
 Market Position & Strategic Advantage

Role in the AI & Developer Tools Market

  • Cognition occupies a niche at the intersection of AI coding assistants and fully autonomous agents, aiming to move beyond autocomplete toward agents that execute substantial software tasks.
  • The company’s products are aimed primarily at professional software teams and enterprises that want to offload repetitive or well-structured engineering work.
  • By combining Devin with an agent-native IDE (via the Windsurf acquisition), Cognition is building a vertically integrated stack for agentic software development.

Competitive Landscape

  • Incumbent tools: Competes indirectly with code assistants such as GitHub Copilot and other AI-augmented IDEs that focus more on inline suggestions than full autonomy.
  • Agentic competitors: Faces emerging competition from other agent-focused startups and from large model providers that are developing their own task-executing agents.
  • Model providers: Foundation model companies can integrate agents directly into their own platforms, which may compress the window for independent agent providers to differentiate.

Differentiation

  • Focus on end-to-end task execution in real developer environments (shell, editor, browser) rather than synthetic tasks alone.
  • Benchmark-driven positioning, including published SWE-bench results, to demonstrate capabilities on realistic software issues.
  • Enterprise-ready features (VPC deployment, repository indexing, documentation, multi-agent orchestration) targeting large organizations with complex codebases.
Financial Opportunity

Revenue Model & Economics

  • SaaS & usage-based pricing: Cognition monetizes primarily through subscriptions and usage-based enterprise contracts for access to Devin and related tooling.
  • Rapid ARR growth: Public reporting indicates Devin’s ARR grew from about $1 M in September 2024 to approximately $73 M by June 2025, with combined ARR (including Windsurf) estimated around $150–155 M by mid-2025.
  • Capital efficiency: Coverage citing Bloomberg notes that net burn since founding has remained under $20 M even as ARR has scaled, suggesting relatively efficient growth to date.

Growth Drivers

  • Enterprise adoption: Expansion of Devin and Windsurf into larger engineering organizations, deeper deployment within existing accounts, and upsell to broader teams.
  • Agent capability improvements: Increased reliability and breadth of tasks that Devin can handle autonomously could translate into more use-cases and higher willingness to pay.
  • IDE & workflow integration: Tighter integration between agent capabilities and the development environment may increase stickiness and overall platform value.
  • Benchmark performance: Strong results on realistic benchmarks such as SWE-bench can support marketing claims and adoption among technically sophisticated buyers.

Overall Financial Profile

  • Cognition Labs is a rapidly scaling, privately held AI company in the autonomous software engineering segment, with strong reported ARR growth, significant late-stage funding, and an expanding enterprise footprint.
  • The financial opportunity is tied to its ability to convert early traction into durable, high-value enterprise relationships while navigating intense competition and the technical challenges of reliable agent autonomy.
  • This overview is informational only and is not an offer, solicitation, or recommendation to buy or sell any security or financial instrument.
Company Snapshot

Founded: 2023 (reported)

Headquarters: San Francisco, California (reported)

Flagship Product: Devin – autonomous AI software engineer

Core Focus: Autonomous AI agents for software engineering and developer workflows

Devin ARR (June 2025): ≈$73 M annual recurring revenue (up from ≈$1 M in Sept 2024; reported)

Estimated Total ARR (Mid-2025, post-Windsurf): ≈$150–155 M (Devin + Windsurf; reported)

Latest Reported Valuation: ≈$10.2 B post-money (Sept 2025 round of ≈$400 M led by Founders Fund)

Prior 2025 Valuation: ≈$4 B (March 2025 raise led by 8VC; reported)

Reported Capital Raised (2024–2025): >$1 B across multiple late-stage rounds

Key 2025 Acquisition: Windsurf (AI coding/IDE platform; ≈$82 M ARR, 350+ enterprise customers at acquisition; reported)

Primary Sector: AI agents & software engineering tools

Notable Benchmarks: 13.86% end-to-end resolution on SWE-bench (company-reported)

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About Cognition Labs

Cognition Labs (also known as Cognition AI) is an applied AI lab focused on building autonomous agents for software engineering, rather than traditional autocomplete-style coding tools. Its flagship product, Devin, is marketed as an “AI software engineer” that can plan work, set up environments, write and test code, debug, and iterate inside a sandboxed development workspace. The company’s core thesis is that software development is a reasoning-intensive task and that building agents capable of long-horizon planning and tool use will unlock step-change productivity gains for engineering teams.

Public reporting indicates that Cognition’s commercial traction accelerated rapidly through 2024–2025. Coverage of the business notes that Devin’s annual recurring revenue (ARR) grew from roughly $1 million in September 2024 to about $73 million by June 2025, while the company kept cumulative net burn under $20 million since founding. In July 2025 Cognition acquired Windsurf, an AI-powered IDE and coding platform with its own substantial enterprise customer base and reported ARR of roughly $82 million, bringing the combined run-rate to around $150–155 million by mid-2025 according to investor research and press reports.

On the product side, Cognition emphasizes agents that can execute end-to-end workflows rather than simply emitting code snippets. Devin operates with access to a shell, editor, browser, and persistent workspace, and is benchmarked on real-world tasks such as SWE-bench, where the company reported 13.86% end-to-end issue resolution versus prior baselines near 2%. Subsequent releases have added features such as multiple parallel agents (“MultiDevin”), repository indexing and documentation generation, and enterprise deployment options, positioning Devin as a tool for large, complex codebases rather than just greenfield projects.

From a capital markets perspective, Cognition has moved quickly into late-stage territory. In early 2025 the company was reported at a roughly $4 billion valuation after a round led by 8VC, and by September 2025 it had raised about $400 million at a post-money valuation of approximately $10.2 billion, in a round led by Founders Fund with participation from existing investors such as Lux Capital and 8VC and new institutional backers. Additional reporting describes an intermediate August 2025 financing that valued the company around $9.8 billion, implying more than $1 billion of primary capital raised across 2024–2025.

Cognition operates in a crowded and rapidly evolving ecosystem that includes foundation model providers, code assistants, and other agent-focused startups. Its strategy is to differentiate on deep autonomy in software workflows, strong benchmark performance, and enterprise readiness—including virtual private cloud (VPC) deployment and security-focused features—while leveraging acquisitions like Windsurf to expand its IDE footprint and customer base. At the same time, public coverage has highlighted a demanding internal culture, including long work expectations and mid-2025 staff reductions, underscoring execution and talent-retention risks alongside the company’s rapid growth.