Cognition Raises $1B at $26B Valuation — Devin Coding Agent Hits $492M ARR Run Rate With 50% Month-Over-Month Growth

TechCrunch·high signal

AI coding startup Cognition closed a $1B+ round led by Lux Capital, General Catalyst, and 8VC, more than doubling its $10.2B valuation from just 8 months ago. Revenue surged from $37M to $492M ARR in one year with enterprise customers including Goldman Sachs, Mercedes-Benz, NASA, and Santander — proving the autonomous coding agent market has real enterprise demand, not just developer hype. The coding agent space is now a three-way race between Cognition (Devin), Anthropic (Claude Code), and OpenAI (Codex), and the enterprise market is choosing full-stack autonomous agents over copilot-style assist tools.