Cognition raises $2B at $48B valuation as Devin revenue nears $900M

Cognition has announced that it raised more than $2 billion in a Series E that values the AI coding company at $48 billion. 

The company has nearly doubled its price tag in under four months. Meanwhile, the run-rate revenue behind its Devin agent is approaching $900 million.

How much did Cognition AI raise in its funding round? 

Artificial intelligence coding startup Cognition AI Inc. has raised over $2 billion in a Series E funding round, pushing its valuation to $48 billion, a massive jump from its $26 billion valuation just four months ago in May 2026. 

New backers of the company, Andreessen Horowitz and Accel, led this funding round. They were joined by existing investors like Founders Fund, General Catalyst, and Avenir.  

The list of investors also includes big names like Benchmark, Bessemer, Kleiner Perkins, Greylock, Lightspeed, Altimeter, T. Rowe Price, Lux, 8VC, DST, Ribbit, Bain Capital Ventures, and Nvidia (NASDAQ: NVDA). 

Cognition plans to burn about $800 million in cash during 2026, mainly to lease Nvidia servers in order to get the computing power needed to run and train AI models.  

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