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Cognition AI Hits $4 Billion Valuation in Deal Led by Lonsdale's Firm [Yahoo! Finance Canada]

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Most Read from Bloomberg The new funding round is being led by 8VC, the Joe Lonsdale-backed venture capital firm, said the people, who asked not to be identified discussing private information. 8VC declined to comment. A representative for Cognition didn't immediately respond to a request for comment. The round doubles the previous valuation of the startup, which released its generative AI coding tool a year ago. Cognition bills the tool, called Devin, as “the world's first AI software engineer.” The new funding round is an indication that investor demand for AI deals is still booming as venture capitalists race to fund promising applications for the technology. Cognition was valued at $2 billion in a funding round last year, according to PitchBook data. Other investors include Founders Fund, Khosla Ventures, Elad Gil and Conviction Partners. Existing investors also participated in the current round, one of the people said. VCs have recently flocked toward AI coding assis
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