AI coding startup Cognition raises $2B at $48B valuation as revenue nears $900M
Artificial intelligence coding startup Cognition AI Inc. today announced that it has raised more than $2 billion in late-stage funding at a $48 billion valuation, nearly doubling the price investors put on the company in its last round.
Before this Series E round, Cognition last raised in May, when it took in more than $1 billion at a $26 billion valuation. Run-rate revenue was $492 million at the time. It’s now close to $900 million, according to the company.
Chief Executive Scott Wu founded the company in 2024. Cognition builds AI agents that handle software engineering work end to end. Its flagship product, Devin, works from high-level requirements rather than line-by-line prompts, planning tasks, writing and testing code, debugging and pushing deployments inside a sandboxed environment.
Cognition also owns Windsurf, the AI coding editor it bought in July 2025 after OpenAI Group PBC’s takeover bid collapsed and Google LLC hired Windsurf’s founders in a technology licensing deal.
