Cognition said it closed a $400 million funding round that values the company at $10.2 billion, two months after it acquired the AI startup Windsurf.
Peter Thiel’s Founders Fund led the round, with Lux Capital, 8VC and Bain Capital Ventures also contributing, according to the company’s announcement.
Cognition CEO Scott Wu wrote in a blog post that the firm will “continue to invest significantly in both Devin and Windsurf, and our customers are already seeing how powerful the combination is together.” He added that since the acquisition, Cognition’s annual recurring revenue has more than doubled and the combined enterprise ARR is up more than 30%.
Jeff Wang, who became CEO of Windsurf after its founders left for Google, posted on LinkedIn that customers will benefit from the close connection between the companies’ products, calling the recent months “quite an eventful” period for the combined business.
Sources
Fan coverage from Devin Central — not an official Cognition announcement. Devin is a trademark of Cognition.