Cognition Raises $2 Billion at $48 Billion Valuation, Competing in AI Coding Market

Cognition, the startup behind the coding assistant Devin, has raised $2 billion, increasing its valuation to $48 billion. This funding round, led by prominent venture capital firms, indicates that investors believe there is still room for multiple players in the AI coding sector. Cognition's annualized run-rate revenue has grown significantly from $492 million to $900 million since its last funding round.