HedgeCo.Net — Cognition said on September 8 it raised over $2 billion in a Series E at a $48 billion valuation. The company’s blog named new lead investors Andreessen Horowitz and Accel alongside existing backers Founders Fund, General Catalyst, and Avenir. Reuters independently printed the same $2 billion / $48 billion Series E framing and the same lead and existing-investor slate. Bloomberg carried the same valuation and lead roster tied to Cognition’s announcement post.
Cognition said company-stated run-rate revenue has grown from $492 million at its May round to almost $900 million. The May financing was $1 billion at a $26 billion valuation, so Tuesday’s mark nearly doubles the prior private valuation on the firm’s own figures. Cognition builds autonomous software-engineering agents under the Devin brand; the firm said customers include engineering teams at NVIDIA, GE Aerospace, Citi, Mercedes-Benz, and Modal.
This is a closed late-stage venture round with company-stated revenue run-rate, not audited annual revenue. Treat over $2 billion raised, $48 billion post-money, a16z/Accel as new leads, and the $492 million ? almost $900 million run-rate path as Cognition’s disclosed tape, corroborated on size and leads by Reuters and Bloomberg. Do not invent ownership percentages, a secondary component, or a public-market comparable. The allocator object is mega-round AI application software with agentic coding as the product wedge.