A new round could see Cognition’s valuation jump by more than 50pc as its annualised revenue run rate nears $1bn.
Cognition AI is reprtedly in early talks with investors for a new funding round that could push the coding start-up’s valuation up by more than 50pc, to at least $40bn.
The talks come less than three months after Cognition closed a $1bn round at a $26bn valuation, with its annualised revenue run rate now nearing $1bn, roughly double where it stood at that last raise.
Any new round would be expected to bring in more than $1bn, though Cognition may ultimately decide not to raise at all, or to seek different terms, a source told Bloomberg.
Founded in 2023, Cognition built its reputation on Devin, an AI agent designed to work through real engineering tasks rather than just suggest code. Devin can read through a codebase, draft a plan, write the code, run tests and fix its own mistakes, largely without a developer sitting over its shoulder, an approach the company brands as an “AI software engineer” rather than a coding assistant.
