Overview

• Founders Fund led the round with participation from Lux Capital, 8VC and Bain Capital Ventures, according to the company and investor reports.
• Cognition says ARR more than doubled since acquiring Windsurf and that combined enterprise ARR rose over 30%, with plans to keep investing in both Devin and Windsurf.
• Revenue from Devin reached $73 million in annual recurring revenue in June, up from $1 million in September 2024, with net burn reported under $20 million since founding.
• In July, Cognition acquired Windsurf’s remaining IP and team after OpenAI talks reportedly collapsed and Google recruited Windsurf’s founders and research leaders in a deal reported to include about $2.4 billion in payouts.
• TechCrunch reports internal turbulence at Cognition, including layoffs of about 30 staff and buyout offers to roughly 200 employees tied to rigorous work expectations.