Cognition's AI coding agent Devin just raised $1B at $26B valuation.

The kicker: Devin writes 89% of Cognition's own code.

Metrics:
• $492M ARR (from $1M in 9 months)
• 50% MoM enterprise growth for 6 months
• Customers: Goldman Sachs, Citi, Dell, Palantir

Path to $1B:
• Launched Devin as junior engineer (March 2025)
• Hit $73M ARR through product-market fit
• Acquired Windsurf for full product stack
• Enterprise ARR +30% in 7 weeks post-acquisition

Lesson: Build a product so good it builds itself.

https://techcrunch.com/2026/05/27/ai-coding-startup-cognition-raises-1b-at-25b-pre-money-valuation/

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