Cognition AI, the developer of the autonomous coding agent Devin, reached an annualized revenue run rate of $1 billion on September 25, 2026. This figure represents a doubling of the company's performance in four months, as the run rate stood at approximately $492 million in May 2026.
The company's financial growth has been rapid, rising from revenue in the low tens of millions in mid-2025 to $900 million by early September 2026. This trajectory occurred over a 15-month period.
In September 2026, Cognition AI secured over $2 billion in a funding round, which increased the company's valuation to $48 billion. This follows a $1 billion raise in May 2026, which had previously set the valuation at $26 billion.
The core product, Devin, launched in March 2024 and is used by clients including Nvidia, Citigroup, Mercedes-Benz, GE Aerospace, Rivian, and various US government agencies. In July 2025, the company acquired Windsurf, an AI-native integrated development environment, to support collaborative coding alongside its autonomous agent.
