MilestoneSep 8, 2026, 20:50 UTC

Cognition raises $2B Series E at $48B valuation to scale Devin

What's the deal? Cognition, the AI software-engineering company behind autonomous coding agent Devin, has raised over $2 billion in a Series E round at a $48 billion valuation. New investors Andreessen Horowitz and Accel led the round, announced September 8, 2026.

Who else is in? Existing backers Founders Fund, General Catalyst, and Avenir joined, alongside a broad syndicate including Benchmark, Bessemer, Kleiner Perkins, Greylock, Lightspeed, T. Rowe Price, Lux Capital, and NVIDIA.

By the numbers: Run-rate revenue has grown from $492 million at Cognition's Series D in May 2026 to almost $900 million. That earlier round raised over $1 billion at a $26 billion valuation — meaning the company's price tag has nearly doubled in roughly four months.

Why now? Cognition credits the growth to expanding adoption of Devin, which it says powers engineering teams at NVIDIA in chip design, GE Aerospace, Citi, Mercedes-Benz, and Modal.

What's the endgame? The company describes the moment as "the dawn of the self-driving software era," where agents act proactively by default and human engineers work as architects who set goals. New capabilities include Devin Auto-Triage for incident investigation and Devin Security Swarm for finding vulnerabilities.

Going global: Over the past year, Cognition opened offices in Washington, Tokyo, Singapore, London, São Paulo, and Madrid, adding to hubs in San Francisco, New York, and Austin. It ties the expansion to working alongside customers on their systems.

The signal: At over $2 billion, this ranks among the very largest deep-tech Series E rounds ever raised in the US, sitting near the 99th percentile of comparable deals. It underscores how aggressively investors are backing autonomous coding agents — and how fast valuations in the category are climbing.