Overview
Cognition builds Devin, a software agent that plans and writes code, runs tests and opens pull requests with limited human input. On 25 September 2026 the company announced that it had passed US$1 billion in annualised revenue run-rate, less than two years after Devin became generally available, naming GE Aerospace and Rivian among customers[13]. Its valuation rose quickly: US$10.2 billion in September 2025, US$26 billion in a round of over US$1 billion led by Lux Capital, General Catalyst and 8VC on 27 May 2026, and US$48 billion in a Series E of over US$2 billion led by Andreessen Horowitz and Accel on 8 September 2026[14]. It signed an agreement to acquire the Windsurf coding editor in July 2025 and has since added teams including The Interaction Company and Corridor[14]. Coding agents are the most contested application category, with model developers selling competing tools directly.
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