Cognition Raises Over $2B Series E at $48B Valuation to Scale Devin Agents
Article excerpt
Cognition has raised over $2 billion in a Series E round at a $48 billion valuation, the AI software-engineering company announced on September 8, 2026. New investors Andreessen Horowitz and Accel led the round, joined by existing investors Founders Fund, General Catalyst, and Avenir. The company’s Series E announcement lists a broad syndicate of additional participants: 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. The announcement states that Cognition’s run-rate revenue has grown from $492 million at its previous round in May 2026 to almost $900 million. The company attributed that growth to expanding adoption of Devin, its autonomous software-engineering agent, and said the product powers engineering teams at NVIDIA in chip design, GE Aerospace in aviation, Citi in financial services, Mercedes-Benz in automotive, and Modal in AI infrastructure. Cognition published a chart tracking monthly Devin usage in what it calls Agent Compute Units, showing steep growth between August 2025 and August 2026. The company framed that trajectory as evidence that Devin is becoming an...
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Over the past year, Cognition opened offices in Washington, D.C., Tokyo, Singapore, London, São Paulo, and Madrid, adding to existing hubs in San Francisco, New York, and Austin.
