Cognition in Talks for Funding at $40 Billion Valuation
Cognition is in early talks with investors for a new funding round at a valuation of at least $40 billion, less than three months after raising $1 billion at a $25 billion pre money valuation, reports Bloomberg.
The round could raise more than $1 billion. The talks are early, and Cognition may still decide not to raise capital or may seek different terms.
Cognition sells Devin, an AI agent that helps automate engineering tasks. The company was founded in 2023 and is backed by investors including General Catalyst and Founders Fund.
The companys annualized revenue run rate is approaching $1 billion, about double the figure from its previous financing.
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