AI coding agent Devin maker Cognition more than doubles its valuation to $26 billion in under nine months

Cognition raised more than $1 billion in fresh funding at a valuation above $26 billion, more than doubling its September 2025 price tag.

The round was led by Lux Capital, General Catalyst, and 8VC, with participation from Founders Fund and Ribbit Capital.

Cognition says annualized revenue has reached $492 million and enterprise usage has jumped tenfold this year.

Its customers include major companies and the U.S. military, and the company also released its own model, SWE-1.6.