AI Coding Startup Cognition Hits $48 Billion Valuation

San Francisco-based Cognition confirmed a $2 billion Series E funding round, propelling its valuation to $48 billion. This massive leap comes just three and a half months after the startup closed a $1 billion Series D round at a $26 billion valuation in May. The latest round was led by new investors Andreessen Horowitz and Accel, alongside existing backers Founders Fund, General Catalyst, Avenir, Benchmark, Bain Capital Ventures, and Kleiner Perkins. The company's run-rate revenue has also nearly doubled, climbing from $492 million in May to nearly $900 million today.

Founded in 2024, Cognition is the creator of Devin, an autonomous AI agent designed to execute complex software engineering tasks without human supervision. The startup has recently expanded Devin's capabilities, introducing features that allow the agent to launch incident investigations, identify and triage security vulnerabilities, and configure workflows directly from existing systems without requiring users to open chat interfaces for every task.

For software engineers and IT leaders, these updates shift the developer's role from manual coding to high-level architecture. By delegating execution to autonomous agents, teams can scale their software production capacity. Cognition trains Devin on open-source models and pledges to remain independent, ensuring that enterprise customers are not locked into specific model providers. This flexibility is attracting major clients, including Nvidia, GE Aerospace, Citi, Mercedes-Benz, and Modal.

The fresh capital will fund further global expansion. Cognition has already established a global footprint with offices in Tokyo, Singapore, Sao Paulo, Madrid, and Washington D.C., and plans to use the Series E proceeds to open additional locations worldwide.