AI coding startup Cognition raised $1 billion in a Series D round co-led by Lux Capital, General Catalyst, and 8VC, according to Crunchbase and AI funding trackers reporting on the deal in early June 2026. The round valued the company at $26 billion, more than double its previous valuation in under eight months. Cognition makes Devin, an autonomous software engineering agent that can plan, write, and test code independently. The company's annualized revenue reportedly grew from $37 million in May 2025 to $492 million by May 2026 — a roughly 13-fold increase in twelve months. The raise is one of the largest ever for a pure-play AI agent startup.