AI coding startup Cognition reportedly already in talks to raise at $40B valuation
In Brief Posted: 11:19 AM PDT · August 12, 2026 Image Credits:Cognition Julie Bort AI coding startup Cognition reportedly already in talks to raise at $40B valuation Cognition, maker of the AI coding agent Devin, is reportedly already talking to investors about raising another funding round with a…
In Brief Posted: 11:19 AM PDT · August 12, 2026 Image Credits:Cognition Julie Bort AI coding startup Cognition reportedly already in talks to raise at $40B valuation Cognition, maker of the AI coding agent Devin, is reportedly already talking to investors about raising another funding round with a big leap in valuation, after it raised $1 billion at a $26 billon valuation in May. This new round could deliver at least a $40 billion valuation based on achieving a $1 billion annualized revenue run rate, according to sources cited by Bloomberg. Three months ago, when it announced its last raise, Cognition’s Scott Wu confirmed to TechCrunch that it had achieved a $492 million annualized revenue run rate and that enterprises were growing their usage of Devin by 50% month-over-month for the past six months. Wu, a famed wunderkind programmer himself, also told TechCrunch that Devin is not being sold as a human replacement. The agent is often tasked with doing long-tail grunt-work that many programmers dislike, such as bringing old software up to date or moving applications off one platform and onto another. This could account for much of its growing popularity among enterprises that have adopted it. The company says its customers include Mercedes-Benz, NASA, and Goldman Sachs. Topics AI, cognition, Fundraising, In Brief, Startups, TC October 13 – 15 San Francisco Scale faster. Grow your portfolio. Gain practical expertise. No matter your goal, Disrupt can empower you.Save up to $300 today! REGISTER NOW Newsletters See More Subscribe for the industry’s biggest tech news Related Startups Lovable confirms new $13.3B valuation, raises another $400M Julie Bort 13 hours ago Startups General Catalyst leads $1.1B round into 2-month-old River AI Julie Bort 1 day ago AI Anthropic says it will watermark text generated by its AI models Ivan Mehta 2 days ago Latest in Startups In Brief AI coding startup Cognition reportedly already in talks to raise at $40B valuation Julie Bort 11 hours ago Startups Why Stream ring-maker Sandbar says the future of AI wearables is voice Theresa Loconsolo 12 hours ago 29 min Startups Lovable confirms new $13.3B valuation, raises another $400M Julie Bort 13 hours agoSource: TechCrunch — Published — Category: Business