Cognition, the company behind Devin, the autonomous AI software engineer, has raised more than US$1 billion in a Series D round at a US$26 billion post-money valuation. The round was led by Lux Capital, General Catalyst, and 8VC, with participation from existing backers including Founders Fund, Elad Gil, and Alpha Wave, alongside new investors Ribbit Capital, Atreides, and Layer Global.

The Singapore-announced raise comes as autonomous coding agents move from niche tools to mainstream enterprise infrastructure. Cognition reports enterprise usage of Devin has grown more than 10 times since the start of 2026, with annualised run-rate revenue reaching US$492 million.

Enterprise adoption driving dramatic outcomes

Cognition counts Citi, Goldman Sachs, Mercedes-Benz, Dell, and Santander among its enterprise customers. Mercedes-Benz cut a legacy modernisation project originally scoped at eight months down to eight days using Devin. Systems integrators Infosys and Cognizant have embedded Devin into client delivery workflows, while Latin American bank Itau reports 70% of its security vulnerabilities are now fixed automatically through the platform.

There are about 30-35 million software engineers in the world today, and we want to make all of them 10 times more efficient. Engineering teams are adopting Devin because they are able to execute much more aggressively on roadmaps. – Scott Wu, Co-Founder and CEO, Cognition

Singapore office part of rapid global expansion

Cognition has grown from nine employees to more than 250 since launching Devin two years ago, opening offices in London, Tokyo, and Singapore this year. The company has also launched Cognition for Government, with deployments across US federal agencies including the Army, Navy, Treasury Department, and NASA-JPL.

The new capital will fund research and engineering expansion, scaled enterprise deployments, infrastructure investment, and continued international growth.