Robinhood Ventures puts $10M into Cognition after backing OpenAI
Robinhood’s venture arm is spreading its bets across the AI coding wars. The company exclusively told Fortune it has written a $10 million check to Cognition, the startup behind the autonomous coding agent Devin.
The move comes after Robinhood Ventures already put $75 million into OpenAI back in April. Cognition’s Devin now sits alongside OpenAI’s Codex, Anthropic’s Claude Code, and GitHub Copilot as tools competing for developer attention and wallet share.
The Numbers Behind the Round
The Cognition investment was part of the startup’s Series E in September. That round raised more than $2 billion and valued Cognition at $48 billion. At the time of the round, Cognition reported its annualized revenue run rate had reached almost $900 million, up from $492 million in May. Andreessen Horowitz and Accel are also among its backers.
What This Signals
For operators watching the AI coding tool market, the headline is that a retail fintech giant is now financially positioned on two competing sides of the same race. Whether Robinhood’s corporate venture strategy pays off depends entirely on which coding agent wins enterprise and indie developer adoption over the next few years. For now, the funding pressure on every competitor in this space just increased.
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