Factory AI CEO Matan Grinberg has accused former advisor Chris Degnan of breaching confidentiality by maintaining contact with rival Cognition AI before joining the company as chief revenue officer. Factory terminated Degnan on September 30, 2026, three weeks after his participation in board-level meetings covering the product roadmap and competitive positioning. Degnan disputes the allegations, claiming he resigned voluntarily and shared no proprietary information with Cognition. Factory raised $200 million in September 2026 at a $5 billion valuation, bringing total funding to over $400 million. Cognition reached unicorn status in 2024 on the strength of its Devin AI coding agent.
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