Cognition raises $2B Series E at $48B for Devin

Cognition has raised more than $2 billion in a Series E that values the Devin maker at $48 billion.

The company said so in a blog post titled "Do it all with Devin: Announcing our Series E." New investors Andreessen Horowitz and Accel led, alongside existing investors Founders Fund, General Catalyst, and Avenir. The valuation is a private mark on a company-stated raise, not a public-market print.

Since the May round, Cognition says run-rate revenue grew from $492 million to almost $900 million. That figure is annualized and company-stated. It is not audited trailing twelve-month revenue.

TechCrunch puts the May close at a $26 billion valuation. Set $26 billion on $492 million, then $48 billion on almost $900 million, and the multiple is about 53 times in both cases. That is arithmetic on the company's own run-rate, not a verdict on quality of earnings.

Early September reports, including Tech Funding News citing Bloomberg, had Cognition nearing about $1 billion at about $47 billion. The company blog supersedes that chatter with over $2 billion at $48 billion.

Cognition was founded in 2024. Named customers in the post include NVIDIA (chip design), GE Aerospace, Citi, Mercedes-Benz, and Modal. Product notes include Devin Auto-Triage, Devin Security Swarm, and Devin Automations that start from Slack, GitHub, or Linear events.

Other AI software checks this week include Wispr's $280 million Series B. Cognition's binding numbers are the over-$2 billion Series E, the $48 billion mark, and that almost-$900 million run-rate.

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