Cognition seeks new funding round aiming for $40 billion valuation

Aug 12, 2026

AI Summary

Cognition, the developer of the AI coding agent Devin, is reportedly in discussions to raise funds at a valuation of at least $40 billion. This follows a previous funding round in May that valued the company at $26 billion, with significant growth in revenue and enterprise usage of its product.

Cognition is in talks to raise another funding round, targeting a valuation of at least $40 billion.
The company previously raised $1 billion at a $26 billion valuation in May.
Cognition has achieved a $1 billion annualized revenue run rate, with a reported $492 million run rate three months ago.
The usage of Devin, the AI coding agent, has grown by 50% month-over-month among enterprises.
Devin is designed to assist with tasks that programmers often find tedious, such as updating old software and migrating applications.
Cognition's clients include notable companies such as Mercedes-Benz, NASA, and Goldman Sachs.

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Cognition seeks new funding round aiming for $40 billion valuation

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