Forbes reported that Andreessen Horowitz and Accel co-led an over $2 billion Series E round for AI coding agent company Cognition, lifting its valuation to $48 billion. That marks a sharp increase from the $26 billion valuation the company held four months earlier. More than 30 investors joined the round, including Founders Fund, General Catalyst, Avenir, and Nvidia. Cognition’s AI coding agent product, Devin, has seen operating revenue rise from $492 million in May to nearly $900 million. The Information projected that its annualized revenue could reach $4 billion to $5 billion by the end of the year.
According to Forbes, Andreessen Horowitz and Accel co-led an over $2 billion Series E financing round for AI coding agent company Cognition. The round valued the company at $48 billion, up sharply from $26 billion four months earlier.
More than 30 institutions joined the round, including Founders Fund, General Catalyst, Avenir, and Nvidia.
Operating revenue for Devin, Cognition’s AI coding agent product, has grown from $492 million in May to nearly $900 million. The Information projected that its annualized revenue could reach $4 billion to $5 billion by year-end.
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