Cognition AI lands over $1B Series D at $26B valuation

Cognition AI, the San Francisco-based startup behind the autonomous AI software engineer Devin, has raised more than $1 billion in a new Series D funding round, valuing the company at $26 billion post-money. The deal closed around May 27–28, 2026, and marks a sharp jump from the company’s previous $10.2 billion post-money valuation tied to a $400 million round eight months earlier. Multiple reports and the company’s own blog describe the new capital as "over" or "more than" $1 billion, but consistently round it to $1 billion in round tables and databases.

The Series D was led by Lux Capital, General Catalyst, and 8VC, with participation from a broad syndicate of existing and new backers. Returning investors include Founders Fund, Elad Gil, Alpha Wave Global, Bain Capital Ventures, Vitruvian, Avenir, Soma Capital, Conversion Capital, Definition Capital, Positive Sum, 137 Ventures, and others, while new investors such as Ribbit Capital, Atreides, Layer Global, and Omri Casspi also joined the round. According to Forge Global and other funding trackers, this transaction is recorded as a Series D round of approximately $1 billion at a $26 billion post-money valuation, implying a $25 billion pre-money valuation. Several analyses note that Cognition’s total funding raised to date now exceeds $2.2–2.5 billion.

The funding underscores strong investor conviction in standalone AI coding agents as Cognition’s Devin product gains traction with enterprise customers. Coverage of the round highlights that the company’s valuation more than doubled in under a year, reflecting rapid revenue growth and increasing adoption of AI-based software development tools among large organizations. By securing this capital at late-stage unicorn scale, Cognition strengthens its position as one of the most highly valued private AI developer-tools companies, and the deal is widely cited as one of the largest AI funding rounds of 2026.