Cognition crossed a $1 billion annualized revenue run rate on Sept. 25, 2026, up from roughly $492 million in May and approximately $900 million in early September. The startup, which developed the autonomous coding agent Devin, said it raised more than $2 billion in September at a $48 billion valuation, nearly double the $26 billion valuation attached to its $1 billion May funding round. Cognition was generating revenue in the low tens of millions as recently as mid-2025. Devin became generally available in March 2024 and has been adopted by customers including Nvidia, Citigroup, Mercedes-Benz, GE Aerospace and Rivian, as well as multiple U.S. government agencies including the U.S. Army and U.S. Navy. Cognition also lists Goldman Sachs, Elevance Health, Dell Technologies, Santander, Rohlik and Exa among its customers, along with startups such as Modal, Eight Sleep and OpenRouter. In July 2025, the company acquired Windsurf, an AI-native integrated development environment that lets developers work alongside AI. Cognition presents Devin as an autonomous alternative to coding copilots, while Windsurf supports a human-led, collaborative workflow. The $1 billion figure is an annualized projection based on recent performance rather than revenue booked during a calendar year, and the company has not disclosed actual revenue or a breakdown of the run rate. Cognition describes itself as an agent lab working with multiple foundation-model providers and evaluating performance across more than 100 software-engineering task categories.