Dispatch
Cognition raised $2B at $48B, nearly doubling its valuation in four months on $900M run-rate
The Series E was led by Andreessen Horowitz with Accel, Founders Fund, General Catalyst and Avenir, taking Cognition from $26B four months ago to $48B. Annualized run-rate went from $492M in May to about $900M now, which puts its revenue multiple above where Cursor's was in the spring at $2B run-rate before SpaceX bought it for $60B. TechCrunch reports roughly $800M in annual cash burn and a leased Nvidia cluster, with Cognition building its own model on open-source foundations to cut its dependence on OpenAI and Anthropic.
↳ Follow the thread