Cognition Raises $1 Billion at $25 Billion Valuation

May 28, 2026
Cognition, the developer of the AI software engineer Devin, has raised over $1 billion in new funding at a $25 billion pre-money valuation, with participation from Lux Capital, General Catalyst, and 8VC. The company reports $492 million in annualized revenue as enterprise adoption continues to grow.
Cognition Raises $1 Billion at $25 Billion Valuation

Cognition has raised more than $1 billion in new funding at a $25 billion pre-money valuation, bringing its post-money value to $26 billion. The round was led by Lux Capital, General Catalyst, and 8VC, with participation from existing and new investors.

The company, known for creating the autonomous AI software engineer Devin, reported $492 million in annualized revenue and said enterprise adoption has grown tenfold since the start of the year. Cognition said usage of Devin has expanded among major organizations including Mercedes-Benz, NASA, Goldman Sachs, and Santander.

Cognition described itself as an independent agent lab and announced that it has begun building its own model training program. The company recently introduced SWE-1.6, a model now widely used in its Windsurf platform, with a processing speed of up to 950 tokens per second. Devin currently handles most of the product development work inside Cognition, including new features such as Devin Review and Auto-Triage.

We hope you enjoyed this article.

Consider subscribing to one of our newsletters like AI Funding Brief or Daily AI Brief.

Also, consider following us on social media:

AI Funding News AI Brief AI Brief (X)

More from: Funding

05/27
Lodestone Capital Leads $7 Million Investment in Blulabs
05/27
WhiteFiber Secures 100 Million Dollar Loan Facility from Bit Digital
05/27
OpenAI Foundation Commits $250 Million to Study and Support AI's Economic Impact
05/27
ElevenLabs Unveils Music v2 Model with Genre Switching and Section Editing
05/27
Xactus Acquires Mortgage Credit Link from MeridianLink and Launches XedaLink Brand

Subscribe to AI Programming Weekly

Weekly news about AI tools for software engineers, AI enabled IDE's and much more.

AI Token Webinar

Whitepaper

Stanford HAI’s 2025 AI Index Reveals Record Growth in AI Capabilities, Investment, and Regulation

The 2025 AI Index by Stanford HAI provides a comprehensive overview of the global state of artificial intelligence, highlighting significant advancements in AI capabilities, investment, and regulation. The report details improvements in AI performance, increased adoption in various sectors, and the growing global optimism towards AI, despite ongoing challenges in reasoning and trust. It serves as a critical resource for policymakers, researchers, and industry leaders to understand AI's rapid evolution and its implications.

Read more

You May Also Like