[Digital Today reporter Chi-gyu Hwang] AI coding agent startup Cognition has raised more than $2 billion in Series E funding at a $48 billion valuation.

SiliconANGLE reported on Monday that the Series E round nearly doubled Cognition's valuation from the previous round, and that its annualised revenue is close to $900 million.

Cognition raised $1 billion in May at a $26 billion valuation. Its annualised revenue at the time was $492 million.

Cognition, founded in 2024 by Scott Wu (스콧 우), develops an AI agent that handles the full software engineering process. Its flagship product, Devin, plans work based on high-level requirements rather than line-by-line instructions, then writes, tests and debugs code and carries out deployment in a sandbox environment.

Cognition also acquired AI coding startup Windsurf in July 2025.

The company said Devin is used for Nvidia chip design, GE Aerospace aviation work, Citigroup financial services, Mercedes-Benz Group automotive engineering and Modal Labs AI infrastructure. Goldman Sachs is also a Devin customer.

The funding round was led by Andreessen Horowitz and Accel. Existing investors Founders Fund, General Catalyst and Avneer Growth Capital also participated again.