Devin Expands Into a Wider Domain

Cognition raised over $1B at a $26B valuation, led by Lux Capital, General Catalyst, and others.

Devin, an AI software engineer, has become mainstream in the cloud agent market just two years after launch. Enterprise usage has grown more than 10x since the beginning of this year, and run-rate revenue has reached $492M.

Key customers and adoption results:

• Mercedes-Benz: Completed a legacy modernization project that used to take 8 months in just 8 days.
• Itaú: Automatically resolved 70% of security vulnerabilities using Devin.
• Infosys & Cognizant: Integrated Devin into their workflows to speed up project deployment.

Cognition aims to be an 'Independent Agent Lab' that leverages various foundation models. This allows it to select the optimal model for each task, maximizing cost-performance. Its recently released SWE-1.6 model is the most used model on Windsurf, offering fast speeds of up to 950 tokens per second along with excellent cost efficiency.

Cognition is preparing for a transition to an era of 'self-driving software development,' where software development happens on its own. In fact, 89% of the code committed by Cognition's engineering team is written by Devin.