Cognition AI raises US$2b at US$48b valuation in Series E round

AI coding startup Cognition AI has raised US$2 billion in a Series E funding round, valuing the company at US$48 billion. The round was led by Andreessen Horowitz and Accel, with existing backers also participating. Cognition's run-rate revenue has grown to nearly US$900 million since its last round

AI coding startup Cognition AI said on Tuesday it had raised US$2 billion in a Series E funding round at a valuation of US$48 billion. The round was led by new investors Andreessen Horowitz and Accel, alongside existing backers Founders Fund, General Catalyst, and Avenir.

Cognition's run-rate revenue has grown from US$492 million to nearly US$900 million since its last round in May, the firm said in a blog post. The latest round nearly doubles Cognition's valuation from US$26 billion in May, when it raised US$1 billion.

Interest in AI-focused companies has surged significantly, as investors drawn by the lure of a technological revolution pour billions into the ecosystem. Cognition is an AI startup that develops autonomous software-engineering agents, which can plan, write, test and deploy code with limited human intervention.