Cognition, the startup behind AI coding assistant Devin, raised $2 billion at a $48 billion valuation, up from $26 billion just four months earlier. The round was led by Andreessen Horowitz, Accel, Founders Fund, General Catalyst, and Avenir, with annualized revenue jumping from $492M to $900M. The valuation signals investor confidence that the AI coding market can support multiple major players rather than a single winner.
Background
Cognition's Devin is one of the leading AI coding assistants competing with tools like Cursor (now owned by SpaceX) and GitHub Copilot. The AI coding tool market has seen rapid valuation growth and consolidation in 2025-2026.
- Source
- TechCrunch
- Published
- Sep 9, 2026 at 05:04 AM
- Score
- 7.0 / 10