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Total amount raised
$2.5 Billion
Latest funding date
2026-05-27
Location
Cognition has raised funding across four announced rounds, with its latest funding event occurring on May 27, 2026, a Series D of more than $1B led by Lux Capital, General Catalyst, and 8VC at a $26B post-money valuation. The company is an applied artificial intelligence lab focusing on building end-to-end software agents to support engineering teams.
What Is Cognition?
Cognition, founded in November 2023 by Walden Yan, is an applied artificial intelligence lab based in San Francisco, California. The company operates within the AI, generative AI, information technology, and internet industries.
Cognition focuses on developing end-to-end software agents to support engineering teams. Their main product, Devin, is designed to act as a collaborative AI teammate, enhancing the efficiency and innovation of engineering projects, and Cognition says 90% of its own code is now written by its AI.
How Much Funding Has Cognition Raised?
- Series A
- Amount Raised: $21M
- Date: March 2024
- Lead Investors: Founders Fund
- Valuation at Round: ~$350M (pre-money)
- Motivation Behind the Round: To accelerate the development of their AI software agents and launch Devin.
- Series A Extension
- Amount Raised: $175M
- Date: April 2024
- Lead Investors: Founders Fund
- Valuation at Round: $2B
- Motivation Behind the Round: To expand the engineering team and enhance product capabilities following rapid traction with Devin.
- Series B
- Amount Raised: Undisclosed (valuation ~$4B)
- Date: March 18, 2025
- Lead Investors: 8VC (co-led with Lux Capital)
- Valuation at Round: ~$4B
- Motivation Behind the Round: To scale Devin's adoption across enterprise engineering teams and grow revenue.
- Series C
- Amount Raised: $400M
- Date: September 8, 2025
- Lead Investors: Founders Fund
- Valuation at Round: $10.2B
- Motivation Behind the Round: To advance the frontier of AI coding agents, support Windsurf acquisition integration, and scale ARR growth from $1M (September 2024) to $73M (June 2025).
- Series D
- Amount Raised: $1B+
- Date: May 27, 2026
- Lead Investors: Lux Capital, General Catalyst, and 8VC
- Valuation at Round: $26B (post-money)
- Motivation Behind the Round: To put, in the company's words, more Devins in more places, expanding its software agents across engineering teams. Participants included Founders Fund, Elad Gil, Alpha Wave, Definition Capital, Positive Sum, Avenir, Vitruvian, Bain Capital Ventures, Conversion Capital, 137 Ventures, Soma Capital, Omri Casspi, Ribbit Capital, Atreides, and Layer Global.
Total Amount Raised: at least $1.596B based on disclosed round amounts (the Series B amount was not disclosed), and Cognition reports more than $2.5B in total funding. Current Valuation: $26B (as of May 2026). As of September 2026, the company's latest disclosed round is its May 2026 Series D.
Key Investors
- Founders Fund
- Details: Founders Fund is a San Francisco-based venture capital firm founded by Peter Thiel, Ken Howery, and Luke Nosek. The firm is known for its investments in transformative technology companies, and it participated in Cognition's Series D.
- Investment Focus Areas: Technology, healthcare, aerospace.
- Notable Investments: SpaceX, Facebook, Airbnb.
- Khosla Ventures
- Details: Khosla Ventures is a venture capital firm founded by Vinod Khosla, co-founder of Sun Microsystems. The firm focuses on impactful technology investments.
- Investment Focus Areas: Clean technology, healthcare, artificial intelligence.
- Notable Investments: Square, DoorDash, Impossible Foods.
- 8VC
- Details: 8VC is a venture capital firm based in San Francisco, co-founded by Joe Lonsdale. The firm invests in companies that aim to create long-term economic and societal value. 8VC led (or co-led) Cognition's Series B in March 2025 and co-led the $1B+ Series D in May 2026.
- Investment Focus Areas: Enterprise software, healthcare, logistics.
- Notable Investments: Palantir, Wish, Guardant Health.
- Lux Capital
- Details: Lux Capital is a venture capital firm that invests in counter-conventional science and technology ventures. Lux co-led Cognition's Series B alongside 8VC, participated in the Series C, and co-led the May 2026 Series D.
- Investment Focus Areas: Deep tech, life sciences, defense.
- Notable Investments: Lux has backed numerous frontier science and tech companies.
- General Catalyst
- Details: General Catalyst is a venture capital firm that backs early-stage and growth-stage technology companies. It co-led Cognition's $1B+ Series D in May 2026.
- Investment Focus Areas: Software, artificial intelligence, healthcare, fintech.
- Notable Investments: Stripe, Snap, HubSpot.
- Bain Capital Ventures
- Details: Bain Capital Ventures is the venture capital arm of Bain Capital, focused on early-stage and growth-stage technology companies. Bain joined Cognition as a new investor in the Series C and participated again in the Series D.
- Investment Focus Areas: SaaS, fintech, infrastructure.
- Notable Investments: DocuSign, SurveyMonkey, LinkedIn.
What's Next for Cognition?
Cognition closed a Series D of more than $1B on May 27, 2026, at a $26B post-money valuation, co-led by Lux Capital, General Catalyst, and 8VC, with Founders Fund, Bain Capital Ventures, Ribbit Capital, Alpha Wave, Elad Gil, and others joining. The company framed the round under the goal of putting more Devins in more places, extending its software agents to more engineering teams.
Cognition says 90% of its own code is now written by its AI, and its revenue trajectory moved from $1M ARR in September 2024 to $73M in June 2025 following the Windsurf acquisition. Total funding to date stands at more than $2.5B.
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