Cognition AI raises $2 billion at $48 billion valuation

AI coding startup Cognition AI said on Tuesday it had raised $2 billion in a Series E funding round at a valuation of $48 ‌billion.

Here are ⁠some ⁠details:

The round was led by new investors Andreessen Horowitz and Accel, alongside existing backers Founders Fund, General Catalyst, and Avenir.


Cognition's ​run-rate revenue has grown ⁠from $492 million ‌to nearly $900 million ​since ​its last round in ⁠May, the firm said in a ​blog.

The latest round ​nearly doubles Cognition's valuation from $26 billion in May, when it raised $1 billion.

Interest in AI-focused companies has surged ‌significantly, as investors drawn by the lure of a ​technological revolution ​pour ⁠billions into the ecosystem.

Cognition is an AI startup that develops autonomous ​software-engineering agents, which can plan, write, test and deploy code with limited human intervention.