Cognition AI, the artificial intelligence company behind autonomous software-engineering agent Devin, has raised $2 billion in a Series E funding round at a valuation of $48 billion. The latest investment nearly doubles the company’s valuation from the $26 billion level reached in its previous funding round in May 2026.
The Series E round was led by new investors Andreessen Horowitz and Accel, with existing backers Founders Fund, General Catalyst and Avenir also participating. The funding comes as investor interest in AI companies continues to drive large capital commitments towards businesses developing advanced AI applications.
Cognition said its run-rate revenue has grown from $492 million to nearly $900 million since its previous funding round in May. The sharp increase in revenue comes as the company expands the adoption of its AI software-engineering products among enterprise customers.
The company’s flagship product, Devin, is an autonomous software-engineering agent designed to handle a range of development tasks with limited human intervention. It can plan, write, test and deploy code, allowing organisations to use AI for multiple stages of the software-development process.
Cognition has been expanding the capabilities of Devin beyond basic code generation. The platform is designed to work on software-engineering workflows and support tasks that traditionally require developers to analyse requirements, write and test code, identify issues and deploy solutions.
The latest funding follows Cognition’s $1 billion funding round in May 2026, when the company reached a valuation of $26 billion. The latest Series E therefore represents a substantial increase in both the capital raised and the company’s valuation within a relatively short period.
Cognition has also expanded the reach of Devin across several industries. The company’s AI software-engineering agent is being used by organisations including NVIDIA for chip design, GE Aerospace in aviation, Citi in financial services, Mercedes-Benz in automotive engineering and Modal in AI infrastructure, according to reporting on the latest funding.
The funding reflects the growing investor focus on AI agents capable of performing specialised knowledge-work tasks. Rather than functioning only as conversational assistants or code-generation tools, Cognition’s technology is designed to carry out software-engineering workflows from planning through execution.
Founded in 2024, Cognition has emerged as one of the prominent companies in the AI software-engineering space through Devin. The company has continued to attract significant investment as businesses increasingly explore AI agents that can automate parts of software development and engineering operations.
With the latest $2 billion Series E investment, Cognition’s valuation has reached $48 billion, while its run-rate revenue has approached $900 million. The funding gives the company additional capital as it continues developing Devin and expanding its presence in the enterprise software-engineering market.
