Cognition weighs funding round at valuation of up to US$80 billion
The reported investor offers follow a September Series E that raised more than US$2 billion at a US$48 billion valuation.
Cognition is considering another funding round before the end of the year after receiving offers valuing the AI coding startup between US$70 billion and US$80 billion, Business Insider reported. The San Francisco company develops the coding agent Devin.
Business Insider reporter Katie Roof cited people familiar with the discussions. Negotiations remain preliminary, and the proposed terms could change, according to the report. TNW said it had not independently verified the information.
Cognition announced its previous financing on September 8: a Series E raising more than US$2 billion at a valuation of US$48 billion. Accel and Andreessen Horowitz led the investment, while Avenir, Founders Fund and General Catalyst also participated.
Alongside that announcement, Cognition reported run-rate revenue of almost US$900 million, up from US$492 million in May. The company was founded in 2023 by Scott Wu, Steven Hao and Walden Yan. In September, it hired Alex Stamos, previously security chief at Facebook and Yahoo, as CISO.
