Cognition raises $1 billion at $26 billion valuation

Cognition

Cognition closed a Series B funding round of over $1 billion, with a post-money valuation of $26 billion (roughly $492 million in annualized revenue run rate at the time). The round was led by Lux Capital, General Catalyst, and 8VC and reflected rapid adoption of Devin across enterprise engineering teams.

• Raised over $1 billion at $26 billion post-money valuation
• $492 million revenue run rate at time of funding
• 10x+ year-to-date growth in enterprise usage
• Funds directed toward scaling production capacity and customer support