Startup profile for Cognition: latest funding, latest known valuation, total disclosed funding, investors, status, sources, and why the company is interesting. Part of the Venture Capital Tracker startup directory.
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Cognition funding, valuation and investors

Autonomous AI software engineer Devin — agents that code, debug, and ship production software for enterprises.

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Funding, valuation & investors

Answer-first snapshot

Latest funding

Series E

$2B+ · September 2026

Latest known valuation

$48B

Series E · September 2026

Total disclosed equity funding

$400M

Excludes debt, grants, acquisitions, secondaries, and IPO proceeds.

Current status

private

growth · San Francisco, CA

Investors in latest funding

Lead: Andreessen Horowitz , Accel

Other: Founders Fund , General Catalyst , Avenir

Sources: latest funding Last verified: 2026-09-09

Overview

Cognition is an applied AI lab whose flagship product, Devin, is an autonomous AI software engineer that plans, writes, debugs, and deploys code across enterprise engineering workflows. The company also offers Devin Desktop and DeepWiki. Founded in November 2023 by Scott Wu, Steven Hao, and Walden Yan in San Francisco. September 8, 2026 Series E: more than $2B at $48B led by Andreessen Horowitz and Accel with Founders Fund, General Catalyst, and Avenir; company-stated run-rate almost $900M. Prior May 2026 Series D: more than $1B at $26B co-led by Lux Capital, General Catalyst, and 8VC.

Why Cognition is interesting

September 8, 2026 Series E: more than $2B at $48B led by a16z and Accel — company-stated run-rate nearly doubled from $492M in May to almost $900M in four months, keeping AI coding multiplayer after Cursor's SpaceX sale.

Product & use cases

Devin is a cloud-based AI software engineer that autonomously handles coding tasks — from bug fixes to multi-month modernization projects — with integrations for enterprise repos and CI/CD. Devin Desktop extends agentic coding into the IDE.

  • Enterprise code modernization and legacy migration (e.g., Mercedes-Benz project cited by company)
  • Continuous feature development and bug triage for engineering teams understaffed versus backlog
  • Government and regulated-industry software projects requiring auditable agent workflows

Key facts

  • Series E (Sep 8, 2026): >$2B at $48B led by Andreessen Horowitz and Accel (company blog)
  • Company-stated run-rate: $492M (May 2026) → almost $900M (Sep 2026 Series E)
  • Named Series E customers: NVIDIA, GE Aerospace, Citi, Mercedes-Benz, Modal
  • Series D (May 2026): $1B+ at $26B co-led by Lux Capital, General Catalyst, and 8VC
  • September 1, 2026 Bloomberg ~$1B/~$47B talks — superseded by company Series E close
  • Customers also include Goldman Sachs, NASA, Santander (prior coverage)
  • September 3, 2026: Swish Ventures named Cognition in its $250M Fund III close (/2026-swish-ventures-250m-fund-iii) — not a new Cognition round
  • Devin writes 89% of Cognition's own PRs; enterprise usage up 10×+ since January 2026
  • Customers include Goldman Sachs, Mercedes-Benz, NASA, Santander, and U.S. government agencies
  • Acquired Windsurf IDE in July 2025; total funding exceeds $2.5B

Funding history (newest first)

Series E

2026-09 $2B+ Valuation: $48B

Source: https://cognition.com/blog/series-e

Series D

2026-05 $1B+ Valuation: $26B

Source: https://techcrunch.com/2026/05/27/ai-coding-startup-cognition-raises-1b-at-25b-pre-money-valuation/

Series C

2025-09 $400M Valuation: $10B

Source: https://tracxn.com/d/companies/cognition/__A-LTT9JRh_QNtJP-fH1fyGNlIUA_Bt9UIx3qnfFr1w0/funding-and-investors

Investors in our directory

Funds linked from Cognition's profile — open a fund page for stage focus and related deal articles.

andreessen-horowitz lux-capital general-catalyst 8vc founders-fund ribbit-capital bain-capital-ventures

Competitive landscape

Edge: Cognition pairs product velocity with disclosed revenue scale unusual for AI agents — Devin ships production code at named Fortune 500 and agency customers, and the team uses its own agents to build the product, creating a tight feedback loop.

AI coding is splitting between IDE copilots, autonomous agents, and foundation-model providers. Cognition's $492M run-rate validates enterprise willingness to pay for agent throughput, but multiples (~53× revenue at $26B) assume durability against fast-improving model providers and IDE incumbents.

  • GitHub Copilot / Microsoft incumbent

    IDE-embedded coding assistant with massive distribution; less autonomous end-to-end task completion than Devin markets.

  • Cursor direct

    AI-native IDE popular with developers; Cognition acquired rival Windsurf to compete in-editor.

  • OpenAI Codex / frontier labs adjacent

    Foundation models improving native coding each release; Cognition builds application layer on top.

  • Poolside direct

    Enterprise-focused AI coding platform; competes for large engineering-org contracts.

Notable stories

  • Cognition acquired Windsurf (formerly Codeium's IDE unit) in July 2025 after Google's $2.4B acquihire of Windsurf's CEO — preserving an agentic IDE asset that became Devin Desktop (Wikipedia, company announcements).
  • Devin reportedly compressed a Mercedes-Benz code-modernization project from eight months to eight days, a customer case cited at the May 2026 fundraise (TechCrunch).

Industries

ai-ml developer-tools enterprise-saas

Market / IPO context

Editorial / static context — not a live quote.

Related funding articles

Venture Capital Tracker pieces that cover Cognition's financing or category context.

FAQs about Cognition

Practical answers founders, operators, and investors typically search for.

More than $2 billion at a $48 billion valuation on September 8, 2026, led by Andreessen Horowitz and Accel. See /2026-cognition-2b-series-e-48b-a16z-accel.
Cognition builds Devin, an autonomous AI software engineer that writes, debugs, and deploys code, plus Devin Desktop IDE and DeepWiki documentation tools.
More than $1 billion at a $26 billion valuation, co-led by Lux Capital, General Catalyst, and 8VC. Series E (Sep 2026) was more than $2B at $48B — see /2026-cognition-2b-series-e-48b-a16z-accel.
Devin is Cognition's AI software engineer agent — it autonomously handles coding tasks in cloud environments, integrated with enterprise repos and workflows.
Series E led by Andreessen Horowitz and Accel with Founders Fund, General Catalyst, and Avenir. Earlier: Lux Capital, General Catalyst, and 8VC co-led Series D. See /fund/andreessen-horowitz and /fund/general-catalyst.
Copilot assists inside the IDE; Devin targets autonomous end-to-end task completion including planning, coding, and deployment — different interaction model and pricing.
Company reported $492M run-rate in May 2026 and almost $900M by the September 2026 Series E — company-stated annualized figures, not audited annual revenue.
Scott Wu (CEO), Steven Hao (CTO), and Walden Yan (CPO) founded Cognition in November 2023; Wu was a competitive programmer and former Scale AI engineer.
Profitability not publicly disclosed; the May 2026 round was justified by revenue velocity and enterprise adoption metrics, not reported net income.
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