Cognition AI targets $1B in annualized revenue, doubling run rate

Cognition AI, the startup that built the autonomous coding agent Devin, crossed $1 billion in annualized revenue run rate on September 25, 2026. That figure was hovering around $492 million just four months earlier in May, which means the company essentially doubled its top line in the time it takes most startups to finish onboarding new hires. Revenue run rate climbed from roughly $492 million in May to approximately $900 million in early September before punching through the billion-dollar mark later that month. This is a company that was generating revenue in the low tens of millions as recently as mid-2025. A funding round to match the growth Cognition raised over $2 billion in a September 2026 funding round, nearly doubling its valuation to $48 billion from the $26 billion it carried after a $1 billion raise in May 2026. What Cognition actually sells The core product is Devin, an AI agent designed to handle coding tasks autonomously. Devin became generally available in March 2024 and has since been adopted by a roster of heavyweight customers including Nvidia, Citigroup, Mercedes-Benz, GE Aerospace, and Rivian. Multiple US government agencies are also on the client list. In Ju...