AI coding startup Cognition AI behind Devin hits $4 billion valuation

Cognition AI has secured hundreds of millions in new funding at a nearly $4 billion valuation, with venture capital firm 8VC leading the round. The investment doubles the startup's previous valuation, according to Bloomberg, which cited people familiar with the matter. The funding round attracted several prominent investors, including Founders Fund, Khosla Ventures, Elad Gil and Conviction Partners. The company's flagship product, Devin, which it markets as "the world's first AI software engineer," competes in an increasingly crowded AI coding landscape where competitive advantages remain unclear. Most existing coding tools function as AI-enhanced workspaces, powered by large language models from established labs such as OpenAI and Anthropic.