Cognition AI raises $2 billion at $48 billion valuation
AI coding startup Cognition AI secured $2 billion in Series E funding, doubling its previous valuation from $26 billion to $48 billion.
Cognition AI announced on September 8 that it raised $2 billion in a Series E funding round. The company's new valuation stands at $48 billion. The investment round was led by Andreessen Horowitz and Accel, joining existing investors Founders Fund, General Catalyst, and Avenir. Cognition reported that its run-rate revenue grew from $492 million to nearly $900 million since the previous May round. Previously raised $1 billion at a valuation of $26 billion. The startup develops autonomous software-engineering agents capable of planning, writing, testing, and deploying code with limited human intervention. Overall interest in AI-focused companies has surged as investors pour billions into the ecosystem seeking technological revolution opportunities.
