Cognition AI Seeks Funding at $40 Billion Valuation
Cognition AI, the startup behind AI coding assistant Devin, is positioning autonomous software agents as tools that can write, test and maintain code for corporate customers. Its client roster includes major financial institutions such as Citigroup and Goldman Sachs, underscoring growing enterprise demand for generative AI products that promise to accelerate software development and reduce engineering workloads.
The company is in talks with investors to raise more than $1 billion at a valuation of at least $40 billion. The proposed price would be more than 50% above Cognition AI’s previous $26 billion valuation, reached less than three months earlier. Its annualized revenue is now approaching $1 billion, providing investors with a key growth benchmark as they assess the new financing.
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The history behind this eventCognition AI Raises Over $1 Billion at $26 Billion Valuation
Cognition AI is a startup built around Devin, an AI coding agent designed to help companies write, test and maintain software automatically. Devin has been adopted by companies including Mercedes-Benz and Goldman Sachs. Cognition AI has also acquired AI development-tool provider Windsurf, expanding its product portfolio and enterprise customer base.
Cognition AI announced in July 2026 that it had raised more than $1 billion in a Series D funding round, lifting its valuation to $26 billion. That was an increase of $16 billion, or about 160%, from its $10 billion valuation less than a year earlier, reflecting investors’ continued bets on the commercial potential of AI coding agents.
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