Cognition Says Annualized Revenue Run Rate Has Passed $1B

Cognition said on September 25, 2026 that it had crossed $1B in annualized revenue run rate, a company-reported milestone for the maker of the Devin software-engineering agent.

In the announcement, Cognition said it started the company in January 2024 because “the world needs far more software than it can build,” arguing that every company is now a software company, from banks to automakers to governments, and that each has more to build than time to build it.

Cognition said that less than two years after Devin became generally available, the agent works alongside engineering teams at GE Aerospace, Rivian, Rohlik, and Exa, among many others. The post includes a 58-second video in which several customers describe what working with Devin looks like day to day.

Cognition dedicated the milestone to its customers, and the company said its goal is “a world where software is good by default, delightful, and everywhere.”

Series E Funding and Reported Run-Rate Growth

The milestone follows Cognition’s Series E announcement on September 8, 2026, in which the company said it had raised over $2B at a $48B valuation. The round was led by new investors Andreessen Horowitz and Accel, alongside existing investors Founders Fund, General Catalyst, and Avenir. Other investors named in the announcement included Benchmark, Bessemer, Kleiner Perkins, Greylock, Lightspeed, Altimeter, Bond Capital, Meritech, T. Rowe Price, Lux, 8VC, and Bain Capital Ventures, among others.

In the same post, Cognition said its run-rate revenue had grown from $492M at the time of its previous round in May to almost $900M, and that customers throughout the economy are rapidly expanding their adoption as Devin becomes an essential part of how companies build software. The company said Devin powers engineering teams across chip design at NVIDIA, aviation at GE Aerospace, financial services at Citi, automotive at Mercedes-Benz, and AI infrastructure at Modal. The post also included a chart of monthly Devin usage measured in Agent Compute Units from August 2025 to August 2026, which the company described as growing steeply over the period.

Devin’s General Availability and Current Features

Cognition made Devin generally available on December 10, 2024, with pricing starting at $500 per month for engineering teams. The general-availability offering included no seat limits, access to Devin’s Slack integration, IDE extension, and API, plus an onboarding session and support from the Cognition engineering team.

At launch, Cognition recommended that teams start by tagging Devin in Slack threads for small frontend bugs and edge cases, assigning first-draft pull requests for backlog tasks, and making targeted code refactors through the IDE extension for VSCode and its forks. The company’s stated best practices included giving Devin tasks the user already knows how to do, telling Devin how to test or check its own work, keeping sessions under roughly three hours while breaking down large tasks, sharing detailed requirements upfront, and coaching Devin through chat feedback and its Knowledge feature. Cognition said Devin has helped teams with work ranging from building integrations to migrating and maintaining documentation.

Cognition described Slack as the primary interface for starting Devin sessions and said Devin responds automatically to GitHub pull request comments. The launch post also showcased Devin sessions on open-source repositories, including Anthropic’s MCP inspector, the Zod library, Google’s Go GitHub client, Llama Index, and Karpathy’s nanoGPT.

In the more recent Series E post, Cognition said Devin can now take significantly more directed yet proactive action across all of its surfaces. According to the company, Devin Auto-Triage can take a first pass at incident investigation, Devin Security Swarm finds and triages vulnerabilities, and Devin Automations let teams configure work to begin from events in Slack, GitHub, Linear, and other systems without opening a chat for each task.

Independent-Lab Positioning and Office Expansion

The company said it is building Cognition as an independent agent lab so that it can choose and combine the models best suited to the work, including its own, rather than tie customers to one provider. Cognition described what it sees as the dawn of a self-driving software era in which agents become proactive by default, software improves itself, and compute budgets self-allocate toward the highest-impact use cases, while human engineers increasingly act as architects who set goals and priorities and agents take on more of the work to achieve them.

In the September 8 post, Cognition said it had opened offices over the previous year in Washington, D.C., Tokyo, Singapore, London, São Paulo, and Madrid, in addition to its hubs in San Francisco, New York, and Austin, and it said the list will keep growing.