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

TechFlow reports that on September 10, according to Forbes, Andreessen Horowitz and Accel co-led a Series E funding round exceeding $2 billion for AI coding agent company Cognition, raising its latest valuation to $48 billion, a significant jump from $26 billion four months ago. Over thirty other institutions, including Founders Fund, General Catalyst, Avenir, and Nvidia, participated in the round.

Operating revenue from Cognition's AI coding agent product Devin has grown from $492 million in May to nearly $900 million, with The Information projecting that its annualized revenue could reach $4 billion to $5 billion by year-end.