Cognition AI raises $2 billion at $48 billion valuation

Read a summary of this article on FAST.
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST Tap here to return to FAST
FAST

Sept 8 : 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.

CNA Games

Guess Word
Crack the word, one row at a time

Buzzword
Create words using the given letters

Mini Sudoku
Tiny puzzle, mighty brain teaser

Mini Crossword
Small grid, big challenge

Word Search
Spot as many words as you can
Show More
Show Less

• 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.

Newsletter

Week in Review

Subscribe to our Chief Editor’s Week in Review

Our chief editor shares analysis and picks of the week's biggest news every Saturday.

Sign up for our newsletters

Get our pick of top stories and thought-provoking articles in your inbox

Subscribe here

Get the CNA app

Stay updated with notifications for breaking news and our best stories

Download here

Get WhatsApp alerts

Join our channel for the top reads for the day on your preferred chat app

Join here