Cognition Weighs New Funding at $70B–$80B Valuation
Cognition, the developer of the AI coding agent Devin, is reportedly considering a new funding round before year-end after receiving investor offers valuing the company at $70 billion to $80 billion. The company announced a Series E of more than $2 billion at a $48 billion valuation on September 8. Business Insider reported the new talks, but The Next Web said it had not independently verified them.
The proposed valuation represents a substantial increase from September’s $48 billion round and reflects strong investor interest in the company behind Devin.
Cognition, the startup behind the AI coding agent Devin, has received investor offers that value it at $70bn to $80bn. The San Francisco company is seriously considering raising a new round before the end of the year.
Katie Roof reported the talks for Business Insider on Wednesday, citing sources familiar with the matter. The talks are at an early stage and the terms could still change, according to the report. TNW has not independently verified it.
The offers come weeks after Cognition’s last round. On 8 September, it announced a Series E of more than $2bn at a $48bn valuation. Andreessen Horowitz and Accel led that round, with Founders Fund, General Catalyst and Avenir also investing.
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