Cognition Raises $1B at $26B — Devin Writes 89% of Its Own Code

Cognition Raises $1B at $26B — Devin Writes 89% of Its Own Code

Cognition closed over $1 billion in new funding at a $26 billion valuation, led by Lux Capital, General Catalyst, and 8vc — more than doubling its $10.2 billion valuation from eight months prior. Run-rate revenue surged from $37 million to $492 million over the past year, with enterprise usage growing more than 10× in 2026. Devin, its autonomous coding agent, now writes 89% of Cognition's own codebase (up from 13% in December 2025), and a new SWE-1.6 model reaches 950 tokens per second inside Windsurf.

Why It Matters

Cognition's growth rate and the self-authoring benchmark (89% of own code) are the strongest public data points for the thesis that autonomous coding agents have crossed from experiment to production at scale.