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a16z, Accel, Founders Fund, General Catalyst, and Avenir led a fresh funding round for the developer of the Devin AI coding agent. Cognition reported its annual run-rate revenue grew from $492 million in May to nearly $900 million. Nvidia participated in the round and uses the AI software for chip design, while other investors include Benchmark, Bessemer, and Kleiner Perkins.
The company opened offices in Tokyo, Singapore, London, São Paulo, Madrid, and D.C. over the past year to support users including GE Aerospace, Citi, and Mercedes-Benz. Cognition is deploying a Security Swarm tool to find and triage multi-step exploits in large codebases. Devin now monitors Slack channels to autonomously investigate and remediate system alerts.
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Key sources
- SOURCE@cognition“The world needs far more software than it can build”x.com
- SUPPORT@cognition“Benchmark, Bessemer, Kleiner Perkins, Greylock, Lightspeed, Altimeter, Bond Capital, Meritech, Atreides, Valor, T. Rowe Price”x.com
- SUPPORT@cognition“aviation at @GE_Aerospace to financial services at @Citi, automotive at @MercedesBenz”x.com
- SUPPORT@cognition“watches Slack channels for alerts, then autonomously investigates and remediates issues”x.com
- SUPPORT@cognition“opened offices in D.C., Tokyo, Singapore, London, São Paulo, and Madrid in the past year”x.com
- SUPPORT@wallstengine“increase of more than 80% in just a few months”x.com