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Cognition raised over $2B in funding at a $48B valuation to expand its software engineering agents.

Cognition raised over $2B in a new funding round led by Andreessen Horowitz and Accel. The round included participation from existing investors Founders Fund, General Catalyst, and Avenir, along with a20+ other investors including NVIDIA and T. Rowe Price.

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This funding brings the Cognition valuation to $48B. Software demand exceeds current human capacity to build it. Cognition aims to address this by allowing engineers to act as architects who delegate execution to swarms of agents. Their primary agent, Devin, is used by companies such as NVIDIA, GE Aerospace, Citi, and Mercedes-Benz. Since the previous funding round in May, Cognition's run-rate revenue has grown from $492M to nearly $900M. The company is expanding its global presence by opening offices in Washington, D.C., Tokyo, Singapore, London, São Paulo, and Madrid, to supplement its existing hubs in San Francisco, New York, and Austin.

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