Cognition AI Raises $2 Billion at $48 Billion Valuation

On Tuesday, Cognition AI Inc. announced it had secured $2 billion in a fresh funding round, which values the artificial intelligence coding startup at $48 billion.

The Series E round was led by new investors Andreessen Horowitz and Accel, with existing backers Founders Fund, General Catalyst, and Avenir also participating. Additional participants included Benchmark, Bessemer, Kleiner Perkins, Greylock, Lightspeed, Altimeter, Bond Capital, Meritech, Atreides, Valor, T. Rowe Price, Lux, 8VC, D1, 137 Ventures, DST, Positive Sum, HOF, Soma, BoxGroup, Battery, Ribbit, Swish, Stripes, Definition, Hanabi, Journey, Bain Capital Ventures, Layer Global, A Capital, Alpha Wave, Alkeon, Diffusion, and NVIDIA.

Since its last funding round in May, Cognition's run-rate revenue has risen from $492 million to nearly $900 million. The company's Devin product serves clients across multiple industries, including NVIDIA for chip design, GE Aerospace for aviation, Citi for financial services, Mercedes-Benz for automotive, and Modal for AI infrastructure.

Founded in 2024, the startup develops AI agents designed to automate software engineering tasks. Among Devin's features are Auto-Triage for investigating incidents, Security Swarm for identifying vulnerabilities, and Automations that trigger work based on events from Slack, GitHub, Linear, and other systems.

Cognition has expanded its global presence over the past year, opening offices in Washington, D.C., Tokyo, Singapore, London, São Paulo, and Madrid, in addition to its existing locations in San Francisco, New York, and Austin. The company operates as an independent agent lab, allowing it to select and combine different AI models for its customers.

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