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CoinWorld News reports that Cognition has announced the completion of a new round of financing exceeding $1 billion, with the pre-money valuation rising to $25 billion. This represents a doubling of the valuation from the $400 million funding round the company completed 8 months ago.
This round of financing was led by Lux Capital and General Catalyst. Existing shareholders Founders Fund and 8VC continued to invest, and new investors including Ribbit Capital, Atreides, and Layer Global joined.
Cognition’s annualized revenue run rate has reached $492 million, and its customer base includes major enterprises and institutions such as Mercedes-Benz, the U.S. National Aeronautics and Space Administration (NASA), Goldman Sachs, and Santander Bank.