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Devin-Maker Cognition Raises $2bn at $48bn Valuation
- On Tuesday, Sept 8, Cognition announced a $2bn Series E funding round at a $48bn valuation, led by Andreessen Horowitz and Accel.
- Valuation growth accelerated from $26 billion in May when Cognition raised $1 billion, as annualized run-rate revenue climbed from $492m to almost $900m over four months.
- Founded in 2024 by Scott Wu, Cognition develops autonomous software-engineering agents serving major enterprise customers including Mercedes-Benz, NASA, Goldman Sachs, and Citi.
- Serving as both investor and customer, NVIDIA participates in the round while using Devin for chip design; the startup leases an NVIDIA server cluster potentially pushing annual cash burn to $800 million.
- Cognition is expected to reach $4 billion to $5 billion in annualized revenue by year-end 2026, positioning it competitively as Cursor reached $50bn before selling to SpaceX.
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Cognition hit $48bn without paying a higher multiple
Cognition raised over $2bn at a $48bn valuation, up from $26bn in May. Run-rate revenue rose from $492m to almost $900m over the same period. Both rounds price the company at roughly 53 times run-rate revenue, so the multiple did not expand. Cognition has raised more than $2bn at a $48bn valuation. The company announced the […] This story continues at The Next Web
·Amsterdam, Netherlands (Kingdom of the)
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Coverage Details
Total News Sources20
Leaning Left1Leaning Right2Center6Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
11%
C 67%
R 22%
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