Cognition launched SWE-2 coding model and Devin Voice
Concluded·New·in the edition since 10 Sep 2026·2 sources·updated 10 Sep 2026
Cognition's funding round for Devin
The gist
Cognition Closes $2B+ Round at $48B Valuation to Scale Devin
Cognition nearly doubled its valuation and run-rate revenue within months, drawing far more investor interest than the amount raised. The round's revenue multiple places it near the high end of recent AI fundraises.
The full picture
Cognition closed a funding round of more than $2 billion at a $48 billion valuation, led by a16z, Accel, Founders Fund, General Catalyst, and Avenir. The company stated run-rate revenue grew from $492 million to almost $900 million since its prior round in May, which raised over $1 billion at a $26 billion valuation. The $48 billion valuation implies approximately 53 times annualized revenue. Funds will be used to scale the Devin software-engineering agent. Before the close, Bloomberg reported Cognition was set to raise approximately $1 billion at a $47 billion valuation, with investor interest reaching nearly $10 billion.
How it developed
First in the edition · 10 September 2026
Cognition closed a funding round of more than $2 billion at a $48 billion valuation, led by a16z, Accel, Founders Fund, General Catalyst, and Avenir, to scale its Devin software-engineering agent.
Bloomberg had reported on September 2 that the raise was expected to reach approximately $1 billion at a $47 billion valuation, with investor demand reaching nearly $10 billion; the round closed at more than twice that reported size. Cognition said run-rate revenue grew from $492 million to almost $900 million since its May round, which raised over $1 billion at a $26 billion valuation, implying a valuation-to-revenue multiple of approximately 53x.
Bloomberg reported Cognition set to raise ~$1B at $47B valuation; investor interest reached nearly $10B
Sources
Rohan Paul Twitter
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