Cognition closed a funding round exceeding $1 billion, with Lux Capital and General Catalyst as co-leads and participation from Founders Fund, 8VC, Ribbit Capital, Atreides, and Layer Global. The company reported $492 million in annualized revenue run-rate and 50% month-over-month growth in enterprise usage of its Devin tool. Valuation figures differ between sources, and the round follows an earlier $400 million round completed eight months prior.