Cognition revenue and valuation
Specter estimates Cognition's annual revenue at $860M to $1.31B and its valuation at $40.5B to $57.4B. The company last reported $1B ARR in September 2026 and was priced at $48B in September 2026.
- Estimated revenue
- $860M–$1.31B
- Estimated valuation
- $40.5B–$57.4B
- Reported ARR
- $1B
- Total funding
- $3.9B
- Founded
- 2023
- Headquarters
- San Francisco, United States
- Employees
- 640
Cognition revenue
Cognition grew from $85M ARR in July 2025 to $1B in September 2026. Specter's model puts current ARR between $860M and $1.31B, anchored to five reported figures.
Monthly data
| Month | Specter estimate | Low | High | Reported ARR |
|---|---|---|---|---|
| $1.06B | $860M | $1.31B | ||
| $1B | $830M | $1.2B | $1B | |
| $710M | $580M | $870M | ||
| $500M | $420M | $600M | $500M | |
| $500M | $400M | $610M | ||
| $490M | $410M | $590M | $492M | |
| $430M | $260M | $690M | ||
| $370M | $230M | $590M | ||
| $320M | $210M | $480M | ||
| $280M | $189M | $400M | ||
| $240M | $179M | $320M | ||
| $210M | $159M | $270M | ||
| $179M | $142M | $230M | ||
| $155M | $129M | $186M | $155M | |
| $115M | $93M | $142M | ||
| $85M | $71M | $102M | $85M | |
| $19M | $7.7M | $30M | ||
| $18M | $7.6M | $29M | ||
| $17M | $6.6M | $27M | ||
| $29M | $2.4M | $57M | ||
| $13M | $1.3M | $25M | ||
| $13M | $1.3M | $25M | ||
| $12M | $1.2M | $23M | ||
| $10M | $1.2M | $19M | ||
| $8.8M | $1.1M | $16M | ||
| $9.1M | $1M | $17M | ||
| $15M | $2.2M | $28M | ||
| $12M | $1.9M | $23M | ||
| $10M | $4.9M | $15M |
Cognition valuation
Cognition's valuation rose from $350M at its Series A in March 2024 to $48B at its Series E in September 2026. Specter's live estimate sits between $40.5B and $57.4B.
Monthly data
| Month | Specter estimate | Low | High | Reported valuation |
|---|---|---|---|---|
| $48.2B | $40.5B | $57.4B | ||
| $48B | $39.9B | $57.7B | $48B (round) | |
| $25B | $20.8B | $30.1B | $25B (press) | |
| $25.5B | $21.1B | $30.8B | ||
| $26B | $21.6B | $31.3B | $26B (press) | |
| $26B | $21.6B | $31.3B | $26B (round) | |
| $19B | $15.5B | $23.4B | ||
| $13.9B | $11.5B | $16.9B | ||
| $10.2B | $8.48B | $12.3B | $10.2B (press) | |
| $10.2B | $8.48B | $12.3B | $10.2B (press) | |
| $10.2B | $8.04B | $12.9B | ||
| $10.2B | $8.31B | $12.5B | ||
| $10.2B | $8.34B | $12.5B | ||
| $10.2B | $8.48B | $12.3B | $10.2B (round) | |
| $9.8B | $8.15B | $11.8B | $9.8B (press) | |
| $4B | $3.33B | $4.81B | $4B (press) | |
| $4B | $3.16B | $5.06B | ||
| $4B | $3.23B | $4.95B | ||
| $4B | $3.28B | $4.87B | ||
| $4B | $3.33B | $4.81B | $4B (round) | |
| $3.76B | $2.82B | $5.01B | ||
| $3.53B | $2.66B | $4.67B | ||
| $3.31B | $2.52B | $4.36B | ||
| $3.11B | $2.45B | $3.94B | ||
| $2.92B | $2.31B | $3.68B | ||
| $2.74B | $2.14B | $3.51B | ||
| $2.57B | $2.11B | $3.14B | ||
| $2.42B | $1.96B | $2.98B | ||
| $2.27B | $1.9B | $2.71B |
Cognition funding rounds
| Date | Round | Raised | Post-money valuation | Lead investors |
|---|---|---|---|---|
| Series E | $2B | $48B | General Catalyst, Founders Fund, Andreessen Horowitz, Avenir, Accel | |
| Series D | $1B | $26B | General Catalyst, Lux Capital, 8VC | |
| Series C | $400M | $10.2B | Founders Fund | |
| Series B | $300M | $4B | 8VC, Lux Capital | |
| Series A | $175M | $2B | Founders Fund | |
| Series A | $21M | $350M | Founders Fund |
Cognition competitors
The AI coding market competes between integrated assistant tools and autonomous engineering agents.
| Company | Revenue | Valuation |
|---|---|---|
| $860M–$1.31B | $40.5B–$57.4B | |
| $2.15B–$3.95B | $23.3B–$38.6B | |
| $46M–$103M | $2.23B–$3.39B | |
| $8M–$17M | $860M–$1.63B | |
| $300K–$1.9M | $27M–$77M |
Cognition revenue and valuation FAQ
What is Cognition's revenue?
Specter estimates Cognition's annual recurring revenue at $860M to $1.31B as of October 2026. Cognition last reported $1B ARR in September 2026, up from $85M in July 2025.
What is Cognition's valuation?
Cognition's latest post-money valuation is $48B, from a September 2026 Series E. Specter's live estimate is $40.5B to $57.4B.
What is Cognition's revenue multiple?
Cognition is valued at about 48× ARR, based on its $48B September 2026 valuation and $1B last reported ARR. That works out to roughly $1.56M of ARR per employee.
How much funding has Cognition raised?
$3.9B across six rounds, from a $21M Series A in March 2024 to a $2B Series E in September 2026.
Who invested in Cognition?
56 investors, including Accel, Andreessen Horowitz, Avenir, Founders Fund, General Catalyst and Lux Capital.
Who are Cognition's competitors?
Cursor, Windsurf, Augment and Codegen, Inc. Specter ranks 30 competitors for Cognition.