Cognition has raised over $1 billion in a new funding round, valuing the company at $25 billion pre-money, a significant jump from about $10.2 billion post-money after a $400 million round last September.

The round was led by Lux Capital and General Catalyst, with participation from Ribbit Capital, Atreides, Layer Global, and existing backers Founders Fund and 8VC.

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Cognition has positioned itself in the independent AI coding space, following the acquisition of the remaining Windsurf assets last year.

The Windsurf consolidation strengthens Cognition’s portfolio as it competes with model makers and other AI coding startups.

In addition to the new investors, existing backers Founders Fund and 8VC participated in the round, expanding the investor roster for Cognition.

The funding signals strong confidence from top-tier venture firms in independent AI programming startups and Cognition’s strategic direction.

Industry confidence in the viability of independent AI software coding startups and continued enterprise demand is underscored by this investment.

Cognition reports $492 million in annualized revenue run-rate, with Devin usage up 50% month-over-month for six straight months, and lists Mercedes-Benz, NASA, Goldman Sachs, and Santander among its enterprise customers.