Cognition AI Inc., the developer of the Devin artificial intelligence coding assistant, today announced that it has raised more than $400 million from investors. 

Founders Fund led the funding round. It was joined by existing backers Lux Capital, 8VC, Elad Gil, Definition Capital and Swish Ventures. Cognition is now worth $10.2 billion, up from $4 billion in March.

The company’s valuation increase is a reflection of the rapid revenue growth it has experienced over the past year. According to Cognition, its annualized recurring revenue grew from $1 million last September to $73 million this past June. It counts Dell Technologies Inc., Cisco Systems Inc. and other major tech firms as customers.

Cognition’s Devin programming assistant automates tasks such as scanning code files for bugs. Before carrying out a task specified by the user, the software generates a step-by-step overview of how it plans to perform the work. It also provides a confidence score that indicates how likely it is the generated code will be usable. Developers can use that information to determine if running it is worthwhile.

According to Cognition, its AI takes steps to reduce bugs not only before but also after generating code. It runs a series of tests on the code that it outputs to check for potential issues.

Cognition offers the standard version of Devin alongside an enhanced edition geared toward enterprises. According to the company, the latter offering allows customers to create customized versions of Devin optimized for specific engineering tasks. There are also additional cybersecurity controls and an audit log. 

In July, Cognition expanded its product portfolio by acquiring the assets of fellow programming automation startup Windsurf. A few days earlier, Google LLC had hired several senior Windsurf employees and licensed its technology in a deal reportedly worth $2.4 billion. Cognition says the acquisition is a major contributor to its recent revenue growth.

“Our acquisition of Windsurf more than doubled our ARR,” Cognition founder and Chief Executive Officer Scott Wu wrote in a blog post today. “We had < 5% overlap in enterprise customers pre-acquisition, and combining the rapid adoption of Devin with Windsurf’s IDE product and scaled GTM machine has been a massive unlock.”

Windsurf has built an IDE, or integrated development environment, in which programmers can write and debug their code. A built-in AI tool called Cascade provides autocomplete suggestions. It also speeds up related tasks such as moving the cursor to a specific section of a file code.

Cognition will use its newly raised funding to grow its go-to-market and engineering teams. In addition, the company plans to develop new AI models optimized for programming tasks.

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