{ "meta": { "generated": "2026-10-20", "count": 90, "license": "CC BY 4.0 — attribute \"MRR Ledger\" with a link", "docs": "https://mrrledger.com/for-agents/", "tiers": { "venture": { "label": "Venture-backed", "note": "Has raised outside venture funding (e.g. Y Combinator or VC rounds). Says nothing about revenue size." }, "indie": { "label": "Indie", "note": "Bootstrapped or founder-funded; no venture round on record. Says nothing about revenue size." }, "experiment": { "label": "Experiment", "note": "Agent-run or research experiment rather than a conventional company." } }, "tier_note": "Tier is about funding, not size: Venture-backed = raised outside venture money (even at under $1M annualized); Indie = bootstrapped or founder-funded; Experiment = agent-run or research project.", "source_sync_stale_note": "source_sync_stale_since (YYYY-MM-DD) = the source page says its live data connection (e.g. a TrustMRR Stripe key) stopped; value is the last synced figure, dated that day.", "endpoint": "/api/v1/compare.json" }, "a": { "slug": "cognition-devin", "name": "Cognition (Devin)", "category": "coding-agents", "tier": "venture", "tier_label": "Venture-backed", "tier_note": "Has raised outside venture funding (e.g. Y Combinator or VC rounds). Says nothing about revenue size.", "one_liner": "Autonomous AI software engineer (Devin) plus Windsurf IDE suite.", "business_model": "Enterprise SaaS subscriptions", "founded": 2024, "annualized_revenue_usd": 1000000000, "annualized_revenue_basis": "ARR", "confidence": null, "source_sync_stale_since": 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." ], "url_profile": "https://mrrledger.com/b/cognition-devin/", "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 } ], "verified_corroboration": null }, "b": { "slug": "cursor", "name": "Cursor (Anysphere)", "category": "coding-agents", "tier": "venture", "tier_label": "Venture-backed", "tier_note": "Has raised outside venture funding (e.g. Y Combinator or VC rounds). Says nothing about revenue size.", "one_liner": "AI-native code editor whose agents write, edit, and reason over large codebases; part of SpaceX since Aug 2026.", "business_model": "Subscription SaaS (individual + enterprise seats)", "founded": 2022, "annualized_revenue_usd": 4000000000, "annualized_revenue_basis": "ARR (reported)", "confidence": "reported", "source_sync_stale_since": null, "lessons": [ "Moving upmarket from individual developers to enterprise seats is how a dev tool scales past early adopters: business customers went from ~60% (Mar 2026) to ~75% of run rate (May 2026).", "Enterprise mix can offset consumer churn when competing coding agents undercut price." ], "url_profile": "https://mrrledger.com/b/cursor/", "growth_series": [ { "as_of": "2025-01", "annualized_usd": 100000000, "label": "ARR", "value_usd": 100000000, "value_text": "exceeded $100M in recurring revenue (company Series B)", "source_url": "https://cursor.com/blog/series-b", "source_name": "Cursor blog (Series B)", "confidence": null, "annualization": null, "source_sync_stale_since": null }, { "as_of": "2025-06", "annualized_usd": 500000000, "label": "ARR", "value_usd": 500000000, "value_text": "over $500M ARR (company Series C)", "source_url": "https://cursor.com/blog/series-c", "source_name": "Cursor blog (Series C)", "confidence": null, "annualization": null, "source_sync_stale_since": null }, { "as_of": "2025-11", "annualized_usd": 1000000000, "label": "ARR", "value_usd": 1000000000, "value_text": "crossed $1B in annualized revenue", "source_url": "https://cursor.com/blog/series-d", "source_name": "Cursor blog (Series D)", "confidence": null, "annualization": null, "source_sync_stale_since": null }, { "as_of": "2026-03", "annualized_usd": 2000000000, "label": "ARR", "value_usd": 2000000000, "value_text": "reportedly surpassed $2B annualized revenue (Bloomberg via TechCrunch; Cursor did not confirm)", "source_url": "https://techcrunch.com/2026/03/02/cursor-has-reportedly-surpassed-2b-in-annualized-revenue/", "source_name": "TechCrunch", "confidence": "reported", "annualization": null, "source_sync_stale_since": null }, { "as_of": "2026-04", "annualized_usd": 3000000000, "label": "ARR", "value_usd": 3000000000, "value_text": "$3B annualized revenue in late April 2026 (person familiar, first reported by Bloomberg; restated by Forbes)", "source_url": "https://www.forbes.com/sites/richardnieva/2026/06/08/cursor-4-billion-annualized-revenue/", "source_name": "Forbes (person familiar)", "confidence": "reported", "annualization": null, "source_sync_stale_since": null }, { "as_of": "2026-06", "annualized_usd": 4000000000, "label": "ARR", "value_usd": 4000000000, "value_text": "topped $4B annualized revenue in early June 2026, up from $3B (late Apr) and $2B (Feb); ~75% from business customers per the company (person familiar for the $4B; Cursor did not publish it)", "source_url": "https://www.forbes.com/sites/richardnieva/2026/06/08/cursor-4-billion-annualized-revenue/", "source_name": "Forbes (person familiar; enterprise share from the company)", "confidence": "reported", "annualization": null, "source_sync_stale_since": null } ], "verified_corroboration": null }, "diff": { "annualized_a": 1000000000, "annualized_b": 4000000000, "ratio": 0.25, "same_category": true, "same_tier": true, "same_slug": false } }