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Cognition AI raises $2B at $48B valuation, doubling in four months
- Cognition AI said Tuesday it raised over $2B in a Series E led by Andreessen Horowitz and Accel, nearly doubling its $26B valuation from May.
bloomberg+1 - The company says annualized revenue grew from $492M to nearly $900M, with clients including NVIDIA , Citi, and Mercedes-Benz.
unite - Cognition expanded Devin's capabilities to include automated incident triage and security scanning while opening offices across six new global markets.
unite
Cognition AI, the startup behind the autonomous coding agent Devin, announced on Tuesday that it has raised over $2 billion in a Series E funding round at a $48 billion valuation, nearly doubling its worth in less than four months.seekingalpha+1
The round was led by Andreessen Horowitz and Accel, with participation from existing investors Founders Fund, General Catalyst, and Avenir, according to Bloomberg. The syndicate also included Benchmark, Bessemer, Kleiner Perkins, Greylock, Lightspeed, T. Rowe Price, Bain Capital Ventures, and NVIDIA , among dozens of others.bloomberg+1
Revenue Nearly Doubles
Cognition said its annualized revenue run rate has grown from $492 million at the time of its Series D in May to nearly $900 million, driven by expanding enterprise adoption of Devin. The company counts NVIDIA, GE Aerospace General Electric Company , Citi Citigroup Inc. , and Mercedes-Benz among its customers.unite
The fundraise comes just months after Cognition closed a $1 billion Series D at a $26 billion valuation led by Lux Capital, General Catalyst, and 8VC. The company has now roughly doubled its valuation in under four months, underscoring investor appetite for AI infrastructure companies that can demonstrate rapid commercial traction.unite
Expanding Product and Global Reach
Cognition described new capabilities for Devin, including automated incident triage, security vulnerability scanning, and integrations that let teams trigger agent workflows from Slack, GitHub, and Linear without opening a chat session. The company has also opened offices in Washington, D.C., Tokyo, Singapore, London, São Paulo, and Madrid over the past year, adding to existing hubs in San Francisco, New York, and Austin.unite
The AI Coding Arms Race
Founded in 2024, Cognition has positioned Devin as what it calls "the first AI software engineer," framing the current moment as "the dawn of the self-driving software era". The company said 89 percent of code committed by its own engineers is now written by Devin. Cognition reiterated its strategy of operating as an independent agent lab, choosing and combining models — including its own — rather than tying customers to a single AI provider.unite
Sources (5)
- 1 AI Startup Cognition Raises $2 Billion at a $48 Billion Value www.bloomberg.com
- 2 Cognition Raises Over $2B Series E at $48B Valuation to Scale Devin Agents www.unite.ai
- 3 Cognition AI raises $2B at $48B valuation in Series E funding round (NVDA:NASDAQ) seekingalpha.com
- 4 AI startup Cognition raises $2 billion at a $48 billion value - Bloomberg News www.tradingview.com
- 5 Cognition: Raises Over $2B at $48B Valuation blockchain.news
