Cognition, maker of Devin, raises $2B as valuation hits $48B
Cognition, the AI startup behind coding assistant Devin, just raised $2 billion from big-name investors like Andreessen Horowitz and Accel.
This huge cash boost has raised the company's valuation from $26 billion in May to $48 billion since May 2026.
annualized run-rate revenue is climbing fast too, jumping from $492 million to $900 million in just four months.
Cognition aiming for $4B-$5B revenue
Cognition is aiming high, with NASA and Goldman Sachs already on its client list and is expected to reach $4 billion to $5 billion in annualized revenue by the end of 2026.
They're facing off with Cursor (now owned by SpaceX), but unlike their rival, Cognition still leases an NVIDIA server cluster that costs hundreds of millions of dollars annually, a pricey move that could push its total cash burn to $800 million this year.