Maker of Devin, the AI software engineer; acquired Windsurf in 2025
Cognition is an applied AI lab focused on reasoning, best known for Devin, the autonomous AI software engineer launched in March 2024. It acquired rival AI coding startup Windsurf in July 2025 for its IDE and team. In September 2026 it raised $2B at a $48B post-money — co-led by Andreessen Horowitz, Accel, Founders Fund, General Catalyst and Avenir — roughly doubling the $26B mark set four months earlier, with run-rate revenue near $900M.
AI📍 San Francisco, CAFounded 2023
Current Valuation
$48B
as of 2026-Q3
DECACORN
QL Price
$44B
-8% vs last round
QuantLogix's current estimate for Cognition, published 2026-10-07 — below the last disclosed round of $48B (2026-Q3).
Confidence
medium
Basis
blended
What backs this price
Last disclosed round
$48B
2026-Q3
weight 0.99
Secondary market print
$53B
2026-06-27
weight 0.54
Public-company comparables
$13B
2026-Q3
weight 0.27
How this price has held up
No round has priced for Cognition since QuantLogix began publishing a price for it, so there is nothing to grade yet. The claim above is on the record from 2026-10-07 and will be graded against the next priced round. See the full accuracy record →
Which publicly-traded funds already hold it, what $10,000 buys, and whether any route is open to you.
Cite this price as QuantLogix QL Price, Cognition, 2026-10-07 (38cd75a16ab48410).
The id pins this exact claim, so a citation stays checkable after the price moves.
Model estimate for research — not a quote, target price, or investment advice.
IPO Outlookprivate
Is Cognition going public?
No. Cognition is private and has not filed to go public. There is no S-1 on file.
What is Cognition's valuation in 2026?
Cognition is valued at $48B as of 2026-Q3, set by its Later Stage VC ($2.0B, Sep 2026). That is the last confirmed mark, not a live price — private shares do not trade continuously.
Has Cognition filed an S-1?
No public S-1 is on file for Cognition.
Who are Cognition's investors?
Cognition's investors include Founders Fund, Khosla Ventures, 8VC, Peter Thiel, Andreessen Horowitz, Accel and 2 more.
Is Cognition publicly traded — can you buy Cognition stock?
No. Cognition is a private company — its shares are not listed on any exchange and there is no ticker. The routes to exposure are pre-IPO secondary marketplaces and funds (accredited investors), employee tender offers when the company runs one, and public companies with read-through exposure. QuantLogix maps every route it can verify for Cognition on its Pre-IPO Access Desk.
Answers are derived from the roster record shown on this page — filing status, last round and confirmed marks. Where the record is silent, the answer says so rather than guessing.
Company Profile
CEO
Scott Wu
Founded
2023
HQ
San Francisco, CA
Est. Revenue
$900M (2026-Q3)
Growth
+83% run-rate revenue in four months ($492M May 2026 → ~$900M Sep 2026)
Last Round
Later Stage VC — $2.0B (Sep 2026) · Lead: Andreessen Horowitz / Accel / Founders Fund / General Catalyst / Avenir (co-led)
IPO Status
none
Fundraising Status
Later Stage VC · $2.0B · 1 mo ago
none3 disclosed rounds
Later Stage VC Impact
Round Size
$2.0B
Primary financing announced
Post-Money Valuation
$48B
Company-announced mark
Valuation Step-Up
+84.6%
vs Later Stage VC at $26B
Round / Post-Money
4.2%
New capital ÷ post-money
Step-up compares disclosed post-money valuations. Round / post-money is a financing-size ratio, not an ownership or dilution estimate.
Secondary Market
Implied price / share
$137.73
Last round price / share
$125.93
vs last round
+9.4%
Open interest
16
Last round price vs secondary price
Secondary price return by period
Implied per-share price from private secondary transactions, as of Jun 2026. This is a point estimate, not a quote — the feed carries no bid, ask or spread, and a secondary print is evidence of what someone paid on that date rather than a live market. Compare across every tracked name →
Growth & Valuation
Valuation across funding rounds
Valuation step-up per round
Capital raised per round
Charts built from publicly disclosed funding rounds and revenue estimates. Approximate, not real-time, not investment advice.
Funding History
Round
Amount
Date
Lead Investor
Post-Money
Later Stage VC
$2.0B
Sep 2026
Andreessen Horowitz / Accel / Founders Fund / General Catalyst / Avenir (co-led)
$48B
Later Stage VC
$1.0B
May 2026
—
$26B
Series C
$400M
Sep 2025
Founders Fund
$10B
Vertical Intelligence — AI / ML
No verified Hugging Face organization found for Cognition — no attributable open-model footprint. Closed-weights labs are common; this is a distribution signal, not a capability judgment.
Checked huggingface.co as of 2026-10-04. Re-checked weekly.
Talent Signal
Hiring trend
▲ Hiring uptrend
+11% vs 2026-08
Open roles
94
via ashby
Product-build share
44%
engineering, research, product, design
Trajectory
expanding
balanced build + GTM — 44% builders vs 56% go-to-market/G&A — scaling both sides.
No tracked executive churn; open roles trending up.
Open roles by month
Open roles by function
■ product-building ■ go-to-market / G&A
Research Engineer, Post-TrainingDeployed EngineerApplied AI Transformation ManagerProduct EngineerAI Support EngineerDeployed Engineer - Europe
Counted from Cognition's live job board as of 2026-09-15; role functions classified from posting titles. Open-role counts are an activity signal, not headcount. Refreshed monthly.
Founders & Key People
Scott WuSteven HaoWalden Yan
Investors
Founders Fund · Khosla Ventures · 8VC · Peter Thiel · Andreessen Horowitz · Accel · General Catalyst · Avenir
Products
Devin (autonomous AI software engineer)
Windsurf (code editor)
DeepWiki
Competitors
Cursor · GitHub Copilot · Anthropic Claude Code · Replit
AICode AgentsDeveloper Tools
Private-company numbers are not real-time. Reflects publicly disclosed valuations from press releases, news reports, and tender offers as of 2026-Q3. Refreshed quarterly.