Huo Xing Cai Jing reports, according to Forbes, Andreessen Horowitz and Accel jointly led Cognition’s $2 billion-plus Series E funding round, pushing its latest valuation to $48 billion, a significant increase from $26 billion four months ago. Over thirty institutional investors, including Founders Fund, General Catalyst, Avenir, and NVIDIA, participated in the round. Cognition’s AI coding agent product, Devin, has seen its operating revenue grow from $492 million in May to nearly $900 million, with The Information projecting its annualized revenue by year-end could reach $4 billion to $5 billion.
Cognition Completes $2B E-Round at $48B Valuation, Led by a16z and Accel
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Summary
AI + crypto news: Cognition closed a $2 billion Series E round at a $48 billion valuation, led by a16z and Accel. Over 30 firms, including Founders Fund and NVIDIA, participated in the round. The valuation has more than doubled in four months. Cognition’s AI coding agent, Devin, generated $900 million in operating revenue by August, up from $492 million in May. Crypto news outlets report the company could reach $40–$50 billion in annualized revenue by year-end.
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