Cognition announces a Series E funding round of over two billion dollars, valuing the company at $48 billion. With this capital injection, Cognition aims to accelerate the development and global rollout of AI agent Devin.
AI coding company Cognition has seen an increase in both revenue and the use of their AI agent Devin in recent months. While the company had an annual revenue of $492 million in May, that figure has since risen to nearly $900 million. With customers such as Nvidia, GE Aerospace, Citi, Mercedes-Benz, and Modal, Cognition confirms its position across various sectors.
The demand for software development is growing faster than companies can provide sufficient capacity. Cognition aims to address this by allowing engineers to work as architects, while Devin and other AI agents handle the execution.
Rapid growth
Devin is increasingly being deployed at large enterprises. The platform supports various applications, from chip design to financial services and AI infrastructure. Through features like Devin Auto-Triage and Devin Security Swarm, Devin automates incident investigation and vulnerability detection. Furthermore, teams can automate workflows via integrations with Slack, GitHub, and other systems. As a result, engineers no longer need to intervene separately for every task.
Cognition recently became an AI partner of Slack Code, where its AI model Devin acts as a digital colleague that resolves bugs within the existing conversation and provides real-time previews, without the need for tickets or queues.
Software development
According to Cognition, we are at the beginning of an era where software can improve itself. AI agents will proactively work by default, and the allocation of computing power will happen intelligently based on impact. Engineers define the goals and priorities, while agents handle the execution.
With the new funding, Cognition intends to further develop its technology and accelerate international rollout. The company remains committed to increasing software development capacity, supported by autonomous AI agents like Devin.