Cognition AI, a US startup behind the AI coding agent Devin, said on September 8 that it raised US$2 billion in a funding round led by Andreessen Horowitz, Accel, Founders Fund, General Catalyst, and Avenir.

The deal values the company at US$48 billion.

The announcement follows a report last week that the financing was nearing completion and would nearly double Cognition’s valuation from US$26 billion three months earlier.

Cognition also said its run-rate revenue grew from US$492 million in May to nearly US$900 million.

Investor interest in Cognition picked up earlier this year after rival AI coding startup Cursor agreed to be acquired by SpaceX in a US$60 billion deal. That acquisition later closed in August.

🔗 Source: Bloomberg

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