- Cognition, the startup behind AI coding agent Devin, is reportedly in discussions to raise a new funding round that would value the company at $40 billion, just three months after closing a $1 billion raise at a $26 billion valuation.
- According to sources cited by Bloomberg, the new round could deliver at least a $40 billion valuation, contingent on Cognition reaching a $1 billion annualised revenue run rate.
- When it announced its last raise in May, Cognition had reached $492 million in annualised revenue, with enterprise usage of Devin growing 50% month-on-month for the previous six months.
- Cognition last raised $250 million in August 2025 from Andreessen Horowitz, Bessemer, and Sapphire Ventures.
- Cognition had reached $492 million in annualised revenue when it announced its last raise in May.
Cognition, the startup behind the AI coding agent Devin, is reportedly in discussions to raise a new funding round that could value the company at $40 billion. This comes just three months after it secured $1 billion at a $26 billion valuation.12
The new funding round is contingent on Cognition achieving a $1 billion annualised revenue run rate. When it announced its last raise in May, Cognition had reached $492 million in annualised revenue, with enterprise usage of Devin growing 50% month-on-month for the previous six months.35
Sources indicate that Andreessen Horowitz and Bessemer Venture Partners are in talks to lead this new funding round, which could significantly boost Cognition's valuation and market position in the AI coding space.
As the demand for AI-driven solutions continues to rise, Cognition's rapid growth and innovative offerings position it well for future success in a competitive landscape.
“Cognition's valuation could reach $40 billion if it achieves a $1 billion annualized revenue run rate, according to sources. The startup's enterprise usage of Devin has reportedly grown 50% month-on-month for the past six months, indicating strong demand for its AI solutions.”
