Cognitive Talks $40B Valuation 3 Months After $26B Raise
The startup that created the AI code author, Devin, is reportedly raising another round of funding at a $40 billion valuation, three months after raising $1B at a $26B valuation. Its annualized revenue is now at $492M.
Startup Cognition, creator of an artificial intelligence code writer, Devin, is said to be discussing an additional round of financing at a $40B valuation, three months after raising $1B at a $26B valuation. The company’s annualized revenue now sits at $492M and the startup has been growing its client base at a 50% monthly rate for six straight months. Clients include Mercedes-Benz, NASA and Goldman Sachs.
Artificial Intelligence software that helps engineers do the boring stuff such as updating legacy systems, reducing technical debt and rolling out routine upgrades is red hot right now. The $40B valuation is for tackling the stuff that developers love to hate but can’t live without.
Source: techcrunch.com
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Author
Evgenii Arsentev
PhD · Chief Executive Officer, digital health
Articles · Latest articles