Cognition AI: Devin Coding Agent Nears $492M Revenue

Cognition AI has raised over $1 billion, giving the company a $26 billion valuation for its Devin coding agent. What's interesting is that Devin's annualized revenue is now about $492 million, following six months of rapid growth. This traction includes a tenfold increase in enterprise usage since the start of 2026. Companies like Mercedes-Benz, NASA, Goldman Sachs, and Santander are reportedly using Devin. The company states Devin was already working inside thousands of companies by 2025. Last November, Devin had already merged hundreds of thousands of pull requests. One benchmark suggests Devin completed a modernization project in eight days, compared to an estimated eight months. This signals strong operational performance. The bottom line is that this significant funding and revenue growth show increasing confidence in AI coding tools for enterprise use.