Devin-Maker Cognition Raises $2bn at $48bn Valuation
- On Tuesday, Sept 8, Cognition announced a $2bn Series E funding round at a $48bn valuation, led by Andreessen Horowitz and Accel.
- Valuation growth accelerated from $26 billion in May when Cognition raised $1 billion, as annualized run-rate revenue climbed from $492m to almost $900m over four months.
- Founded in 2024 by Scott Wu, Cognition develops autonomous software-engineering agents serving major enterprise customers including Mercedes-Benz, NASA, Goldman Sachs, and Citi.
- Serving as both investor and customer, NVIDIA participates in the round while using Devin for chip design; the startup leases an NVIDIA server cluster potentially pushing annual cash burn to $800 million.
- Cognition is expected to reach $4 billion to $5 billion in annualized revenue by year-end 2026, positioning it competitively as Cursor reached $50bn before selling to SpaceX.
22 Articles
22 Articles
Cognition Reaches $48 Billion Valuation After Doubling in Months With Devin AI Funding Round
Cognition, the artificial intelligence company known for its Devin AI software engineer, has reached a valuation of 48 billion dollars in a fresh funding round that underscores shifting investor sentiment around the future of automated coding tools. The development arrives at a moment when many in the technology sector had begun to assume a handful of dominant players would eventually control the market for AI-assisted programming. Instead, the …
Cognition hit $48bn without paying a higher multiple
Cognition raised over $2bn at a $48bn valuation, up from $26bn in May. Run-rate revenue rose from $492m to almost $900m over the same period. Both rounds price the company at roughly 53 times run-rate revenue, so the multiple did not expand. Cognition has raised more than $2bn at a $48bn valuation. The company announced the […] This story continues at The Next Web
Coverage Details
Bias Distribution
- 70% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
