Cognition, the AI coding startup behind the Devin agent, has raised more than $1 billion in a new funding round at a $26 billion valuation. The figure more than doubles the company's valuation from its previous round.
The financing was co-led by Lux Capital, General Catalyst, and 8VC, with additional participation from Ribbit Capital, Atreides Management, and Founders Fund.
The round lands amid intensifying competition to build autonomous software-engineering agents, a category that has drawn outsized investor interest as labs and startups race to automate larger portions of the development workflow.
The fresh capital is expected to fund continued model and product development as Cognition competes with a growing field of well-funded coding-agent rivals.