Cognition has raised more than $400 million at a $10.2 billion valuation and that the acquisition has paid off handsomely in terms of boosting revenue. Following the March 2024 debut of its AI coding agent Devin, Cognition quickly gained traction among AI-forward developers looking to provide natural language instructions and have Devin generate code suggestions for them automatically with minimal human intervention. Earlier this year, Cognition agreed to acquire Windsurf’s remaining team and tech in July 2025 for an undisclosed sum (estimated to be $250 million). Now, it turns out that deal has paid off quite well for Cognition. “Before acquiring Windsurf, Cognition’s Devin [annually recurring revenue] ARR grew from $1M ARR in September 2024 to $73M ARR in June 2025, as usage increased exponentially. Our growth remained efficient throughout, with total net burn under $20M across the company’s entire history. Our acquisition of Windsurf more than doubled our ARR. More importantly, it gave us the complete product suite for AI coding. ” Writing on X, Jeff Wang, CEO of Windsurf, said “our customers can benefit from the opportunities of both products having synergies between local and cloud agents,” and envisioned a future of “enabling engineers manage an army of agents to build technology faster.” In addition, since acquiring Windsurf, major customers such as Goldman Sachs, Citi, Dell, Cisco, Palantir, Nubank, and Mercado Libre are now using the combined platform, according to the company. Analysts note that Cognition’s strategy — pairing Devin’s multi-agent task execution with Windsurf’s integrated development environment (IDE) and multi-model support — directly aligns with these evolving priorities. With $400 million in fresh capital and backing from prominent investors, Cognition signals that it has the financial strength to continue scaling Devin and Windsurf rather than facing near-term consolidation or shutdown risk.