AI coding startup Cognition reportedly already in talks to raise at $40B valuation | TechCrunch
SearchSubmit
Site Search Toggle
Mega Menu Toggle
Topics
Latest
AI
Amazon
Apps
Biotech & Health
Climate
Cloud Computing
Commerce
Crypto
Enterprise
EVs
Fintech
Fundraising
Gadgets
Gaming
Government & Policy
Hardware
Layoffs
Media & Entertainment
Meta
Microsoft
Privacy
Robotics
Security
Social
Space
Startups
TikTok
Transportation
Venture
More from TechCrunch
Staff
Events
Startup Battlefield
StrictlyVC
Newsletters
Podcasts
Videos
Partner Content
TechCrunch Brand Studio
Contact Us
In Brief
Posted:
11:19 AM PDT · August 12, 2026
Image Credits: Cognition
Julie Bort
AI coding startup Cognition reportedly already in talks to raise at $40B valuation
Cognition, makers of the AI coding agent Devin, is reportedly already talking to investors about raising another funding round with a big leap in valuation, after it raised $1 billion at a $26 billon valuation in May.
This new round could deliver at least a $40 billion valuation based on achieving a $1 billion annualized revenue run rate, according to sources cited by Bloomberg.
Three months ago, when it announced its last raise, Cognition’s Scott Wu confirmed to TechCrunch that it had achieved a $492 million annualized revenue run rate and that enterprises were growing their usage of Devin by 50% month-over-month for the past six months.
Wu, a famed wunderkind programmer himself, also told TechCrunch that Devin is not being sold as a human replacement. The agent is often tasked with doing long-tail grunt-work that many programmers dislike such as bringing old software up to date or moving applications off one platform and onto another. This could account for much of its growing popularity among enterprises that have adopted it. The company says its customers include Mercedes-Benz, NASA, and Goldman Sachs.
Topics
AI, cognition, Fundraising, Startups, TC
October 13 – 15
San Francisco
Scale faster. Grow your portfolio. Gain practical expertise. No matter your goal, Disrupt can empower you.
Save up to $300 toda y!
REGISTER NOW
Newsletters
See More
Subscribe for the industry’s biggest tech news
TechCrunch Daily News
Every weekday and Sunday, you can get the best of TechCrunch’s coverage.
TechCrunch Mobility
TechCrunch Mobility is your destination for transportation news and insight.
Startups Weekly
Startups are the core of TechCrunch, so get our best coverage delivered weekly.
StrictlyVC
Provides movers and shakers with the info they need to start their day.
No newsletters selected.
Subscribe
By submitting your email, you agree to our Terms and Privacy Notice.
Related
AI
As AI safety concerns mount, three pioneers make the case for staying open
Kate Park
29 minutes ago
Fundraising
OpenAI-backed Thrive Holdings raises $2B to bring AI to the enterprise
Rebecca Bellan
38 minutes ago
Security
Uber Freight reportedly investigating after hacking group claims data breach
Zack Whittaker
1 hour ago
Latest in Startups
In Brief
AI coding startup Cognition reportedly already in talks to raise at $40B valuation
Julie Bort
21 seconds ago
Startups
Why Stream ring-maker Sandbar says the future of AI wearables is voice
Theresa Loconsolo
2 hours ago<br>29 min
Startups
Lovable confirms new $13.3B valuation, raises another $400M
Julie Bort
2 hours ago
© 2026 TechCrunch Media LLC.