AI coding startup Cognition reportedly already in talks to raise at $40B valuation
Cognition’s next valuation jump is tied to a reported $1 billion annualized revenue run rate.
Bloomberg-cited sources say the Devin maker is discussing a new round that could value it at least $40 billion. TechCrunch notes that Cognition raised $1 billion at a $26 billion valuation in May. Scott Wu previously told TechCrunch Devin was at a $492 million annualized revenue run rate, with enterprise usage rising 50% month over month for six months. He said Devin is being used for disliked maintenance work like updating old software and moving apps between platforms. TechCrunch AI's note
Bloomberg-cited sources say the Devin maker is discussing a new round that could value it at least $40 billion. TechCrunch notes that Cognition raised $1 billion at a $26 billion valuation in May. Scott Wu previously told TechCrunch Devin was at a $492 million annualized revenue run rate, with enterprise usage rising 50% month over month for six months. He said Devin is being used for disliked maintenance work like updating old software and moving apps between platforms. TechCrunch AI's note
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