{
  "slug": "cognition-devin",
  "name": "Cognition (Devin)",
  "url": "https://cognition.com",
  "category": "coding-agents",
  "tier": "venture",
  "one_liner": "Autonomous AI software engineer (Devin) plus Windsurf IDE suite.",
  "what_the_agent_does": "Devin takes engineering tasks end-to-end alongside teams; Windsurf adds an AI IDE. Agents are positioned as junior-to-senior teammates, not autocomplete.",
  "business_model": "Enterprise SaaS subscriptions",
  "metrics": [
    {
      "label": "ARR",
      "value_usd": 1000000,
      "value_text": "$1M Devin ARR (Sep 2024; company blog)",
      "as_of": "2024-09",
      "source_url": "https://cognition.com/blog/funding-growth-and-the-next-frontier-of-ai-coding-agents",
      "source_name": "Cognition blog",
      "age_days": 761,
      "older_figure": false,
      "source_sync_stale_since": null,
      "superseded": true,
      "link_check": {
        "status": "ok",
        "code": 200,
        "checked": "2026-10-16"
      },
      "verification": null
    },
    {
      "label": "ARR",
      "value_usd": 73000000,
      "value_text": "Devin ARR grew from $1M (Sep 2024) to $73M (Jun 2025) pre-Windsurf",
      "as_of": "2025-06",
      "source_url": "https://cognition.com/blog/funding-growth-and-the-next-frontier-of-ai-coding-agents",
      "source_name": "Cognition blog",
      "age_days": 488,
      "older_figure": false,
      "source_sync_stale_since": null,
      "superseded": true,
      "link_check": {
        "status": "ok",
        "code": 200,
        "checked": "2026-10-16"
      },
      "verification": null
    },
    {
      "label": "Valuation",
      "value_usd": 10200000000,
      "value_text": "$10.2B post-money; $400M+ raised (Sep 2025)",
      "as_of": "2025-09",
      "source_url": "https://cognition.com/blog/funding-growth-and-the-next-frontier-of-ai-coding-agents",
      "source_name": "Cognition blog",
      "age_days": 396,
      "older_figure": false,
      "source_sync_stale_since": null,
      "superseded": true,
      "link_check": {
        "status": "ok",
        "code": 200,
        "checked": "2026-10-16"
      },
      "verification": null
    },
    {
      "label": "ARR",
      "value_usd": 492000000,
      "value_text": "run-rate revenue grew to $492M (Series D)",
      "as_of": "2026-05-27",
      "source_url": "https://cognition.com/blog/series-d",
      "source_name": "Cognition blog (Series D)",
      "age_days": 142,
      "older_figure": false,
      "source_sync_stale_since": null,
      "superseded": true,
      "link_check": {
        "status": "ok",
        "code": 200,
        "checked": "2026-10-16"
      },
      "verification": null
    },
    {
      "label": "Valuation",
      "value_usd": 26000000000,
      "value_text": "$26B valuation; over $1B raised (Series D)",
      "as_of": "2026-05-27",
      "source_url": "https://cognition.com/blog/series-d",
      "source_name": "Cognition blog (Series D)",
      "age_days": 142,
      "older_figure": false,
      "source_sync_stale_since": null,
      "superseded": true,
      "link_check": {
        "status": "ok",
        "code": 200,
        "checked": "2026-10-16"
      },
      "verification": null
    },
    {
      "label": "ARR",
      "value_usd": 900000000,
      "value_text": "run-rate revenue grew from $492M to almost $900M (Series E, Sep 8 2026)",
      "as_of": "2026-09-08",
      "source_url": "https://cognition.com/blog/series-e",
      "source_name": "Cognition blog (Series E)",
      "age_days": 38,
      "older_figure": false,
      "source_sync_stale_since": null,
      "superseded": true,
      "link_check": {
        "status": "ok",
        "code": 200,
        "checked": "2026-10-16"
      },
      "verification": null
    },
    {
      "label": "Valuation",
      "value_usd": 48000000000,
      "value_text": "$48B valuation; over $2B raised (Series E)",
      "as_of": "2026-09-08",
      "source_url": "https://cognition.com/blog/series-e",
      "source_name": "Cognition blog (Series E)",
      "age_days": 38,
      "older_figure": false,
      "source_sync_stale_since": null,
      "superseded": false,
      "link_check": {
        "status": "ok",
        "code": 200,
        "checked": "2026-10-16"
      },
      "verification": null
    },
    {
      "label": "ARR",
      "value_usd": 1000000000,
      "value_text": "crossed $1B in annualized revenue run rate (Sep 25 2026)",
      "as_of": "2026-09-25",
      "source_url": "https://cognition.com/blog/1b-run-rate",
      "source_name": "Cognition blog",
      "age_days": 21,
      "older_figure": false,
      "source_sync_stale_since": null,
      "superseded": false,
      "link_check": {
        "status": "ok",
        "code": 200,
        "checked": "2026-10-16"
      },
      "verification": null
    }
  ],
  "founded": 2024,
  "team_size_text": null,
  "lessons": [
    "Acquiring complementary IDE distribution can more than double ARR quickly.",
    "Positioning agents as teammates that own tasks end-to-end, not autocomplete, supports enterprise-sized contracts.",
    "Efficient burn relative to ARR was a deliberate narrative."
  ],
  "tags": [
    "devin",
    "autonomous-engineer",
    "windsurf",
    "enterprise"
  ],
  "last_verified": "2026-10-15",
  "agentic_origin": "agent-native",
  "url_profile": "https://mrrledger.com/b/cognition-devin/",
  "annualized_revenue_usd": 1000000000,
  "annualized_revenue_basis": "ARR",
  "confidence": null,
  "source_sync_stale_since": null,
  "older_figure": false,
  "verified_corroboration": null,
  "headline_verification": null,
  "age_days": 21,
  "tier_label": "Venture-backed",
  "tier_note": "Has raised outside venture funding (e.g. Y Combinator or VC rounds). Says nothing about revenue size.",
  "independent": true,
  "ownership": null,
  "ownership_watch": null,
  "last_ownership_check": "2026-10-16",
  "revenue_disclosed": true,
  "badge_url": "https://mrrledger.com/badge/cognition-devin.svg",
  "badge_plain_url": "https://mrrledger.com/badge/cognition-devin-plain.svg",
  "growth_series": [
    {
      "as_of": "2024-09",
      "annualized_usd": 1000000,
      "label": "ARR",
      "value_usd": 1000000,
      "value_text": "$1M Devin ARR (Sep 2024; company blog)",
      "source_url": "https://cognition.com/blog/funding-growth-and-the-next-frontier-of-ai-coding-agents",
      "source_name": "Cognition blog",
      "confidence": null,
      "annualization": null,
      "source_sync_stale_since": null
    },
    {
      "as_of": "2025-06",
      "annualized_usd": 73000000,
      "label": "ARR",
      "value_usd": 73000000,
      "value_text": "Devin ARR grew from $1M (Sep 2024) to $73M (Jun 2025) pre-Windsurf",
      "source_url": "https://cognition.com/blog/funding-growth-and-the-next-frontier-of-ai-coding-agents",
      "source_name": "Cognition blog",
      "confidence": null,
      "annualization": null,
      "source_sync_stale_since": null
    },
    {
      "as_of": "2026-05-27",
      "annualized_usd": 492000000,
      "label": "ARR",
      "value_usd": 492000000,
      "value_text": "run-rate revenue grew to $492M (Series D)",
      "source_url": "https://cognition.com/blog/series-d",
      "source_name": "Cognition blog (Series D)",
      "confidence": null,
      "annualization": null,
      "source_sync_stale_since": null
    },
    {
      "as_of": "2026-09-08",
      "annualized_usd": 900000000,
      "label": "ARR",
      "value_usd": 900000000,
      "value_text": "run-rate revenue grew from $492M to almost $900M (Series E, Sep 8 2026)",
      "source_url": "https://cognition.com/blog/series-e",
      "source_name": "Cognition blog (Series E)",
      "confidence": null,
      "annualization": null,
      "source_sync_stale_since": null
    },
    {
      "as_of": "2026-09-25",
      "annualized_usd": 1000000000,
      "label": "ARR",
      "value_usd": 1000000000,
      "value_text": "crossed $1B in annualized revenue run rate (Sep 25 2026)",
      "source_url": "https://cognition.com/blog/1b-run-rate",
      "source_name": "Cognition blog",
      "confidence": null,
      "annualization": null,
      "source_sync_stale_since": null
    }
  ],
  "related": [
    {
      "slug": "cursor",
      "name": "Cursor (Anysphere)",
      "category": "coding-agents",
      "tier": "venture",
      "category_label": "Coding agents",
      "tier_label": "Venture-backed",
      "one_liner": "AI-native code editor whose agents write, edit, and reason over large codebases; part of SpaceX since Aug 2026.",
      "annualized_revenue_usd": 4000000000,
      "revenue_disclosed": true,
      "confidence": "reported",
      "source_sync_stale_since": null,
      "url_profile": "https://mrrledger.com/b/cursor/",
      "compare_url": "https://mrrledger.com/compare/?a=cognition-devin&b=cursor",
      "score": 7,
      "why": [
        "same category",
        "same tier",
        "shared: enterprise",
        "nearby scale"
      ]
    },
    {
      "slug": "lovable",
      "name": "Lovable",
      "category": "coding-agents",
      "tier": "venture",
      "category_label": "Coding agents",
      "tier_label": "Venture-backed",
      "one_liner": "Vibe-coding platform whose agent builds full apps from natural language.",
      "annualized_revenue_usd": 600000000,
      "revenue_disclosed": true,
      "confidence": null,
      "source_sync_stale_since": null,
      "url_profile": "https://mrrledger.com/b/lovable/",
      "compare_url": "https://mrrledger.com/compare/?a=cognition-devin&b=lovable",
      "score": 7,
      "why": [
        "same category",
        "same tier",
        "similar scale"
      ]
    },
    {
      "slug": "replit",
      "name": "Replit",
      "category": "coding-agents",
      "tier": "venture",
      "category_label": "Coding agents",
      "tier_label": "Venture-backed",
      "one_liner": "Agentic software-creation platform for non-engineers and enterprises.",
      "annualized_revenue_usd": 240000000,
      "revenue_disclosed": true,
      "confidence": null,
      "source_sync_stale_since": null,
      "url_profile": "https://mrrledger.com/b/replit/",
      "compare_url": "https://mrrledger.com/compare/?a=cognition-devin&b=replit",
      "score": 7,
      "why": [
        "same category",
        "same tier",
        "shared: enterprise",
        "nearby scale"
      ]
    },
    {
      "slug": "factory",
      "name": "Factory",
      "category": "coding-agents",
      "tier": "venture",
      "category_label": "Coding agents",
      "tier_label": "Venture-backed",
      "one_liner": "Agent-native platform of autonomous coding agents (Droids) for the full software lifecycle.",
      "annualized_revenue_usd": 60000000,
      "revenue_disclosed": true,
      "confidence": "reported",
      "source_sync_stale_since": null,
      "url_profile": "https://mrrledger.com/b/factory/",
      "compare_url": "https://mrrledger.com/compare/?a=cognition-devin&b=factory",
      "score": 6,
      "why": [
        "same category",
        "same tier",
        "shared: enterprise"
      ]
    }
  ]
}