Cognition AI is the company behind Devin, marketed as the world's first fully autonomous AI software engineer. Founded in November 2023 by Scott Wu, Steven Hao, and Walden Yan - all former competitive programmers - the company has grown rapidly on the strength of demand for AI agents capable of independently planning, writing, testing, and shipping code.
Cognition raised more than $1 billion in a Series D round in May 2026 at a $26 billion valuation, up sharply from a prior valuation near $10.2 billion, led by Lux Capital, General Catalyst, and 8VC, bringing total funding to more than $2.5 billion. Reporting in August 2026 indicated early discussions for a further round at a valuation above $40 billion, though that round had not closed as of this writing.