AI coding startup Cognition reportedly already in talks to raise at $40B valuation
Cognition may be looking to raise another mega round just a few months after raising $1 billion at a $26 billion valuation.
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Cognition, a maker of an AI coding agent, is in talks to raise funding at a $40 billion valuation, according to Bloomberg sources citing achievement of a $1 billion annualized revenue run rate. The company previously raised $1 billion at a $26 billion valuation in May, when it had achieved a $492 million annualized revenue run rate with enterprise customers growing their usage by 50% month-over-month. The AI coding agent is being used for long-tail tasks that programmers typically dislike, such as updating old software or migrating applications between platforms, rather than as a human replacement. Cognition's customers include Mercedes-Benz, NASA, and Goldman Sachs.
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