Cognition Completes $2 Billion Series E Funding, Valuation Reaches $48 Billion

Cognition has completed over $2 billion in Series E funding, with its latest valuation reaching $48 billion, a significant increase from $26 billion four months ago. Andreessen Horowitz and Accel co-led the investment, with over thirty other institutions including Founders Fund, General Catalyst, Avenir, and Nvidia participating. The operational revenue of Cognition's AI coding agent product Devin has grown from $492 million in May to nearly $900 million, and The Information predicts its annualized revenue could reach $4 billion to $5 billion by the end of the year.

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