Cognition hits $48B valuation with $2B Series E as ARR nears $900M
创业邦 · wechat · 2026-09-10
Cognition raised a $2B+ Series E at a $48B valuation led by a16z and Accel, with Founders Fund, General Catalyst and Nvidia participating—100x growth in under three years for the company founded by three Chinese-born IOI gold medalists.
- ARR grew from $37M (May 2025) to $492M (May 2026) to nearly $900M (Sept 2026), a 20x+ jump in 16 months
- Devin now makes 89% of commits in Cognition's own codebase (up from 13%); Devin Fusion's sidecar-routing cuts average task cost to $3 with Fable5, and the SWE-1.7 model hits 77.8% on SWE-Bench Multilingual
- Customers include Nvidia, GE Aerospace, Citi, Mercedes-Benz (compressed an 8-month modernization to 8 days), Goldman Sachs and NASA; enterprise usage up 10x in 2026
- Acquired Windsurf in 2025 to span IDE-to-agent, but faces pressure from OpenAI, Anthropic and Cursor
Related event: Cognition Raises $2B+ at $48B Valuation as ARR Nears $900M(11 posts)→
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