Cognition, the creator of AI agent Devin, raised over $1 billion in May 2026 at a $26 billion valuation, with total funding now exceeding $2.5 billion. The company’s annualized run-rate revenue grew from $492 million in May 2026 to over $1 billion by September 2026. Devin handles all stages of software development and 95% of Cognition’s own code is written by its agents. Mercedes-Benz reportedly reduced an eight-month modernization project to eight days using the tool.
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