Arjun Mishra

Introducing Devin 2.0: a new agent-native IDE experience. Generally available today starting at $20. 🧵👇

We’ve raised over $400M at a $10.2B post-money valuation to advance the frontier of AI coding agents. The round was led by Founders Fund with other existing investors including Lux, 8VC, Neo, Elad Gil, Definition Capital, and Swish VC all doubling down. We’re also joined by new investors including Bain Capital Ventures and D1 Capital. Two of our early investors, Christian Lawless of Conversion Capital and Emily Cohen of Neo, have even joined our team full-time.

We raised $85M. It's taken 4 years to get to this moment. Exa began as a gnawing itch. What if Google was outdated? What if you could use transformers to build perfect search over all the world’s information? What if we were the ones who did it? In 2021, this sounded crazy to most people I talked to. So we did YC, bought a million dollar GPU cluster, trained transformer models for years, made some serious breakthroughs, built a search API, grew our customer base to thousands, grew our team to 35 people, shipped the highest quality search for LLMs in the world (Exa API), shipped the most comprehensive search in the world (Websets), shipped the fastest search API in the world (Exa Fast), and now raised a Series B. Exa doesn’t sound so crazy to people anymore. With this funding, that original itch has turned into a feeling of duty. It’s not just a dream anymore. Exa is well-positioned to completely transform the way we find information as a society. The stakes could not be higher. As our species plunges headfirst into an increasingly chaotic AI world, misinformation will be rampant and quality information will become ever harder to find. Social media, news orgs, and traditional search engines are not equipped to handle the information overload from this new era. Exa is. Exa was built to be search infrastructure for this AI world. Unlike incumbents, we have no ads, meaning our incentives are purely to serve our users with the highest quality information. And unlike other startups, we spent years building our own search engine from scratch and making it customizable, meaning our users can get customized control over the world’s information. The next stage of Exa will be achieving the dream of perfect search. What this means is that we will handle literally any information request. Ex. “What’s the total number of articles about web search that came out in the past year”. To truly organize the world’s information, we’ll need to: 1. Gather all the world’s information 2. Develop methods to preprocess it such that it can be retrievable with any query no matter how complex The first step is building 10x larger scale indexing/processing infrastructure, training/researching novel embedding models on a 5x bigger GPU cluster, and customizing our product for tens of thousands of new customers around the world. Does this all sound crazy? Exactly. It’s the crazy ones who'll do it.

Would Lovable have grown nearly as fast if the term “vibe coding” hadn’t entered the zeitgeist? I don’t think so. Some of the fastest-growing startups create or attach themselves to culturally relevant language.

It’s a privilege to welcome Windsurf to Cognition. Here are more details in the note I sent to our Cognition team this morning: Team, As discussed during our all-hands, we are acquiring Windsurf. We have now signed a definitive agreement and we couldn’t be more excited. Here’s a recap and, again, this information is highly confidential until 11am PT, after Windsurf’s all-hands. The Windsurf team deserves to hear this from Jeff and me in the right way, so please keep everything quiet in the interim out of respect for our new colleagues. So, what exactly is the deal? With this acquisition, Cognition will own Windsurf’s beloved product and strong business: -The Windsurf IDE, now with full access to the latest Claude models -Windsurf's IP, including their trademark and the strong brand they have built -$82M of ARR and a fast-growing business, with enterprise ARR doubling quarter-over-quarter -A user base that includes 350+ enterprise customers and hundreds of thousands of daily active users Above all, we are welcoming some of the most impressive people in our industry, including world-class GTM, engineering, and product teams. We’ve long admired the Windsurf team and what they’ve built. One of my top priorities in structuring this deal was to honor their talent, hard work, and accomplishments in making Windsurf the great business it is today. To that end, Jeff and I worked together to ensure that every single employee is treated with respect and well taken care of in this transaction. Specifically: 100% of Windsurf employees will participate financially in this deal 100% of Windsurf employees will have vesting cliffs waived for their work to date 100% of Windsurf employees will receive fully accelerated vesting for their work to date Every new employee of Cognition will be treated the same way as existing employees: with transparency, fairness, and deep respect for their abilities and value. After today, our efforts will be as a united and aligned team. There’s only one boat and we’re all in it together. What this means for Cognition is that we’ll be able to move even faster on our mission of building the future of software engineering. As you all know, we’ve had strong momentum and adoption over the last few months. For many enterprise engineering teams, Devin is already a top contributor. As our customer base continues to grow, it’s clear that combining the rapid adoption of Devin as the leading fully autonomous agent with Windsurf’s IDE product and scaled GTM machine will be a massive unlock. There’s never been a more exciting time to build. Within our lifetime, engineers will go from bricklayers to architects, focusing on the creativity of designing systems rather than the manual labor of putting them together. It’s a privilege to be in this position, and it’s your hard work that has brought us here. There’s much more to do ahead, and the work won’t be easy, but today is a huge win for all of us in the positive-sum game we’re playing. Thank you for being on this journey together. Now let’s get ready to give our new colleagues a warm welcome. Scott