Cognition raises $2B Series E, hits $48B valuation
Cognition just closed a $2 billion Series E at a $48 billion valuation. That is up from a $26 billion valuation and $1 billion Series D in May, a jump of roughly $22 billion in three and a half months.
The round was led by new investors Andreessen Horowitz and Accel, with existing backers Founders Fund, General Catalyst, Avenir, Benchmark, Bain Capital Ventures, and Kleiner Perkins also participating.
The Revenue Story
Run-rate revenue was reported at $492 million in May. Cognition now claims that figure is near $900 million. The company did not break down the methodology behind those numbers, so the usual attribution caveats apply.
What Devin Does Now
Cognition’s core product is Devin, an autonomous agent built to execute coding tasks without human supervision. The company was founded in 2024 with the stated goal of letting engineers operate as architects while delegating execution to fleets of agents.
Recent feature additions include incident investigation initiation, vulnerability triage, and the ability to configure work from existing systems without opening a chat for each task. Reported customers include Nvidia, GE Aerospace, Citi, Mercedes-Benz, and AI infrastructure vendor Modal.
What the Funding Covers
Cognition plans to use the capital to open more offices. The company already expanded globally with locations in Tokyo, Singapore, Sao Paulo, Madrid, and Washington D.C. Cognition trains Devin on open source models and used the announcement to commit to staying independent and avoiding lock-in to specific model providers.
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