Cognition raises $2 billion in Series E funding led by a16z, valuation hits $48 billion

AI coding agent company Cognition has secured over $2 billion in Series E funding, led by Andreessen Horowitz (a16z) and Accel, reaching a valuation of $48 billion. The round included participation from over 30 institutions, including Founders Fund, General Catalyst, Avenir, and Nvidia. Cognition's AI coding product, Devin, has seen its operating revenue grow from $492 million in May to nearly $900 million, with projections suggesting an annualized revenue of $4 billion to $5 billion by year-end.