Cognition Achieves $46B Valuation Amid Rapid Revenue Growth

Cognition, an AI startup based in San Francisco, has successfully raised new capital at a staggering valuation of approximately $46 billion. This valuation marks a significant increase from the $26 billion post-money valuation achieved just three months prior during its Series D funding round in May 2026.

Founded in 2023, Cognition has seen its valuation soar from $10.2 billion in September 2025 to over $40 billion by August 2026, showcasing an impressive trajectory. The company’s revenue run-rate has also surged, approaching $1 billion, nearly doubling from the $492 million reported during its May fundraising efforts.

The Series D round raised over $1 billion and was led by prominent investors including Lux Capital, General Catalyst, and 8VC, with participation from existing backers like Founders Fund and new investors such as Ribbit Capital and Layer Global. To date, Cognition has raised more than $2.5 billion since its inception.

Cognition’s flagship product, Devin, is an autonomous AI coding agent capable of executing tasks with minimal human supervision, including writing code, debugging, and deploying features. The enterprise usage of Devin has reportedly increased more than tenfold since January 2026, with clients including Goldman Sachs and the US government.

In July 2025, Cognition expanded its capabilities by acquiring Windsurf, a rival AI coding tool, further enhancing the Devin platform. CEO Scott Wu has been at the helm of this rapid growth, steering the company towards a promising future.