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

Cognition, the San Francisco-based AI company behind autonomous software engineer Devin, has secured over $1 billion in new funding at a post-money valuation of $26 billion. Multiple reports describe the round as a Series D financing, with the company confirming that the raise surpasses the $1 billion mark and lifts its valuation from about $10.2 billion just eight months earlier to $26 billion today. The round marks a major step up from Cognition’s $400 million funding in 2025 and subsequent $500 million raise tied to its Windsurf acquisition, reflecting rapid growth in enterprise demand for its AI coding platform.

The Series D was led by Lux Capital, General Catalyst, and 8VC, with broad participation from existing and new backers. Returning investors include Founders Fund, Elad Gil, Alpha Wave, Definition Capital, Positive Sum, Avenir, Vitruvian, Bain Capital Ventures, Conversion Capital, 137 Ventures, Soma Capital, and Omri Casspi, while new investors such as Ribbit Capital, Atreides, and Layer Global also joined the round. According to coverage of the financing, Cognition’s Devin product is seeing strong enterprise uptake and has helped push the company’s annualized revenue run-rate into the hundreds of millions of dollars, supporting the sharp valuation increase and cementing Cognition as one of the most highly valued independent AI developer-tools startups.