a16z Leads Cognition’s $200 Million Series E Funding Round at a $4.8 Billion Valuation

According to Forbes, Andreessen Horowitz and Accel co-led Cognition, an AI coding agent company, in a Series E funding round of more than $2 billion, pushing its latest valuation to $48 billion, a substantial increase from the $26 billion valuation four months prior. Over 30 other institutions, including Founders Fund, General Catalyst, Avenir, and NVIDIA, participated in the round. Operating revenue for Cognition’s AI coding agent product Devin has grown from $492 million in May to nearly $900 million, with The Information forecasting that its annualized revenue could reach $4 billion to $5 billion by year-end.