Cognition AI has raised over US$2 billion at a US$48 billion valuation through a Series E round led by new investors Andreessen Horowitz and Accel, alongside existing investors Founders Fund, General Catalyst, and Avenir.
Other investors in the round include Benchmark, Bessemer, Kleiner Perkins, Greylock, Lightspeed, Altimeter, Bond Capital, Meritech, Atreides, Valor, T. Rowe Price, Lux, 8VC, D1, 137 Ventures, DST, Positive Sum, HOF, Soma, BoxGroup, Battery, Ribbit, Swish, Stripes, Definition, Hanabi, Journey, Bain Capital Ventures, Layer Global, A* Capital, Alpha Wave, Alkeon, and Diffusion.
Software shapes nearly every aspect of modern life. Yet the world’s demand for software far exceeds our capacity to build it.
Even the most ambitious, well-resourced teams leave products unbuilt, postpone critical upgrades, and allow vulnerabilities to go unaddressed because engineering time is finite.
“We started in 2024 to change that and build the future of software engineering,” the company said in a statement. “We believed engineers should operate more like architects and delegate execution to swarms of agents. Together, engineers and their Devins could dramatically expand the world’s capacity to build great software and solve hard problems.”
Cognition created Devin, touted as the first fully autonomous artificial intelligence software engineer.
Cognition said that as Devin becomes an essential part of how companies build software, customers throughout the economy are rapidly expanding their adoption.
Devin works with the world’s leading companies, powering engineering teams across chip design at NVIDIA, aviation at GE Aerospace, financial services at Citi, automotive at Mercedes-Benz, and AI infrastructure at Modal.
