Cognition Stock for Accredited Investors

AI / Machine Learning
By UpMarket Research  |  Last updated: September 2026
CEO Scott Wu Founded 2023 HQ San Francisco, US

Cognition is a private applied AI company best known for Devin, an autonomous software engineering agent that plans, writes, tests, and ships code. The company serves enterprise software teams and positions Devin as an AI software engineer for complex development workflows. In September 2026, Cognition raised $2 billion in its Series E at a $48 billion post-money valuation, led by Andreessen Horowitz and Accel (Reuters and Bloomberg).

Access to pre-IPO shares is available to accredited investors through UpMarket.

Last Reported Valuation
$48B
Series E, 09/08/26, Reuters and Bloomberg
UpMarket Estimate
$58B
Based on UpMarket valuation model
Previous Round Valuation
$26B
Series D, May 2026

How to Invest in Cognition Through UpMarket

Cognition shares are not on public exchanges. UpMarket provides accredited investors access through secondary market transactions.

Step 01

Verify accredited investor status

Confirm eligibility under SEC Rule 501 of Regulation D. Income or net worth threshold applies.

Step 02

Create an UpMarket account

Complete KYC/AML onboarding. Typically 1–2 business days. Licensed rep assigned on signup.

Step 03

Review available Cognition offerings

Full offering memoranda and risk disclosures provided before any commitment is required.

Step 04

Complete subscription documents

Review and sign subscription agreement. All documents handled digitally through the platform.

Step 05

Fund your investment

Wire transfer or ACH. $50K minimum. Funds held in custodial account until close.

Pre-IPO investments are illiquid, speculative, and involve risk of total loss of capital.

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Valuation Growth Over Time

Post-money valuation by round
Previous rounds Most recent
DateRoundAmount raisedValuation
Sep 2026 Series E $2B $48B
May 2026 Series D $26B

Cognition's most recent reported round is its Series E, announced September 8, 2026. It raised $2 billion at a reported post-money valuation of $48 billion, led by Andreessen Horowitz and Accel. Source: Reuters and Bloomberg. Data as of September 27, 2026.

Why Investors Are Watching Cognition

Growth Signal

Cognition raised over $1B at a $26B valuation

Cognition said it raised more than $1B in a new round, with the company valued at $26B. The round was led by Lux Capital, General Catalyst, and 8VC, signaling strong late-stage investor demand.

Market Opportunity

Devin ARR reportedly surged from $1M to $73M in 9 months

Investor research cited by Summit Ventures says Devin’s ARR grew from about $1M in September 2024 to roughly $73M by June 2025. The same reporting says Cognition kept cumulative net burn under $20M since founding, suggesting efficient monetization at scale.

Product Milestone

Cognition acquired Windsurf, adding an IDE and $82M ARR

In July 2025, Cognition acquired Windsurf, an AI-powered IDE and coding platform with reported ARR of about $82M. Investor research says the combined run-rate reached roughly $150M–$155M by mid-2025 after the deal.

Interested in Cognition stock? Fill out the form above or sign up directly. Subject to availability. Accredited investors only.

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Cognition Leadership Team

Scott Wu
CEO

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Cognition Stock FAQ

No. As of March 2026, Cognition is a private company and does not trade on any public stock exchange. Accredited investors can access Cognition shares through UpMarket, a FINRA-registered broker-dealer that specializes in pre-IPO investments.

Cognition does not have a public stock price because it is privately held. The most recent known share price comes from its last funding round. Pre-IPO share prices on the secondary market may differ from the last round price depending on supply, demand, and market conditions.

Yes. Accredited investors can indicate interest in Cognition shares through UpMarket by filling out the form on this page or creating an account at upmarket.co. All pre-IPO offerings are subject to availability and require a $50,000 minimum investment. UpMarket is a FINRA-registered broker-dealer and has brokered alternative investments since 2019.

Pre-IPO investments carry significant risks. Cognition shares are illiquid, meaning there is no public market to sell them quickly. There is no guaranteed exit timeline or return. The investment is speculative in nature, and investors should be prepared for the possibility of total loss. Valuations of private companies can fluctuate substantially between funding rounds. Investors should consult their financial advisor and review all offering documents before investing.

In a pre-IPO transaction, accredited investors purchase shares from existing shareholders (such as employees, early investors, or other holders) through secondary market platforms. The company itself does not issue new shares in these transactions. UpMarket facilitates these trades as a FINRA-registered broker-dealer, handling compliance, documentation, and settlement on behalf of both parties.

There are two primary exit paths for pre-IPO holdings: selling your shares on the secondary market to another buyer, or holding until the company completes an IPO or is acquired. Both paths are subject to transfer restrictions, company approval (right of first refusal), and market conditions. The timing of any exit is unpredictable, and investors should plan for a multi-year holding period.

The minimum investment for most pre-IPO offerings on UpMarket is $50,000. This amount may vary depending on the specific offering and share availability. There are no fees to create an UpMarket account or browse available investments. Investors only pay transaction-related fees when they complete an investment.

UpMarket's valuation estimate of $58B is derived from a proprietary model that incorporates multiple data sources: funding round data (Caplight), revenue estimates (Sacra), secondary market pricing, and public company comparables. The model applies a private company discount to the public comp multiple to account for illiquidity and information asymmetry. This estimate is not investment advice and may differ substantially from the price at which shares actually trade.

Cognition was valued at $48B in its September 2026 Series E. Accredited investors can request Cognition access through UpMarket.

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