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Cognition reportedly in talks to raise at $40B valuation, up from $26B
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Cognition, maker of AI coding agent Devin, is reportedly in talks to raise funding at a $40 billion valuation, just months after raising $1 billion at a $26 billion valuation in May.
The reported valuation leap from $26B to $40B in roughly three months reflects rapid revenue growth at AI coding startups, with Cognition reportedly tying the new valuation to hitting a $1 billion annualized revenue run rate. For engineering teams, the trajectory signals accelerating enterprise adoption of AI agents for tasks like legacy modernization and platform migrations.
Written by elseif from the cluster below · every claim links back to a sourceThe three things worth knowing
Cognition is reportedly in talks to raise at a $40B valuation, up from $26B in May
The valuation jump is tied to reportedly reaching a $1B annualized revenue run rate
Enterprise usage of Devin grew 50% month-over-month for the past six months
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