Cognition AI Inc. secured $2 billion in a Series E funding round, reaching a valuation of $48 billion. This figure nearly doubles the company's valuation from its previous round in May, when it raised over $1 billion at a $26 billion valuation.
The startup, founded by Scott Wu in 2024, develops AI agents for software engineering. Its flagship tool, Devin, manages tasks from planning to deployment. The company also owns the Windsurf editor, acquired in July 2025 following a failed takeover bid by OpenAI.
Cognition reports that its run-rate revenue has grown from $492 million in May to nearly $900 million. The platform is currently utilized by companies including Nvidia, GE Aerospace, Citigroup, Mercedes-Benz, Modal Labs, and Goldman Sachs.
The Series E round was led by Andreessen Horowitz and Accel, with participation from over 30 other firms, including Founders Fund, General Catalyst, Avenir Growth Capital, and Nvidia. The company has expanded its presence to nine global offices.
The firm has faced scrutiny regarding its benchmark claims and internal labor practices. In August 2025, Cognition laid off 30 employees and required remaining staff to choose between severance or a work schedule of at least 80 hours per week.
