Three months after a billion-dollar round, the publisher of the code agent Devin is reportedly back with investors, buoyed by rapid growth in its enterprise revenues.
Cognition, the company behind the programming agent Devin, would already be under discussion for a new round table that could value it at least $40 billion. In May 2026, it raised one billion out of a value of 26 billion; the new negotiation would be backed by an annualized income of $1 billion.
At the time of the previous round, the company had an annualized rate of $492 million and an increase in business usage of about 50% per month over the past six months. Mercedes-Benz, NASA or Goldman Sachs are among its customers.
The positioning defended by its leader Scott Wu is less about replacing developers than about absorbing the long technical trail: modernization of aging software, platform migrations, unsound tasks that few teams want to take care of.
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