Robinhood Ventures has invested $10 million in Cognition, the San Francisco-based developer of the AI coding agent Devin. The deal, announced on October 23, 2026, marks a strategic expansion for the venture arm, which previously committed $75 million to OpenAI earlier this year.
Cognition recently closed a Series E funding round in September 2026, raising $2 billion at a post-money valuation of $48 billion. This followed a Series D round in May 2026, which secured over $1 billion at a valuation of $26 billion.
The company reported revenue growth from approximately $492 million in May 2026 to nearly $900 million by September 2026. This performance is attributed to enterprise adoption, with clients including NVIDIA, Citi, GE Aerospace, and Mercedes-Benz.
Cognition claims that its Devin agent writes 89% of its own code. By backing both Cognition and OpenAI, Robinhood Ventures has established positions in two competing firms within the automated software engineering market.
