Robinhood’s venture arm has written a $10 million check to Cognition, the San Francisco startup behind the AI coding agent Devin.
The deal was announced on October 23, 2026. It means Robinhood Ventures now backs two different horses in a race where most investors are still trying to pick just one.
Earlier in 2026, the same arm committed $75 million to OpenAI, maker of the Codex coding tool.
A crowded field with a lot of money in it
The AI coding space has become one of the most contested corners of tech. OpenAI’s Codex, Anthropic’s Claude Code, GitHub Copilot and Cognition’s Devin are all fighting for the same pool of developers.
Devin’s pitch is autonomy: it is designed to carry out coding tasks, fix bugs and streamline engineering workflows with limited hand-holding.
Cognition has made a striking claim to back that pitch: Devin reportedly writes 89% of its own code.
Robinhood’s $10 million is a modest sum next to Cognition’s recent fundraising. In September 2026, the company closed a $2 billion Series E at a $48 billion post-money valuation.
That round came only months after a Series D in May 2026, which raised over $1 billion at a $26 billion valuation.
The numbers behind the valuation
Cognition’s revenue grew from approximately $492 million in May 2026 to nearly $900 million by the time of the Series E. That growth has been driven largely by enterprise adoption of Devin.
NVIDIA, Citi, GE Aerospace and Mercedes-Benz are among Cognition’s enterprise clients.
Cognition also counts Andreessen Horowitz and Accel among its backers. Robinhood Ventures now joins a cap table that already features some of Silicon Valley’s best-known names.
The company was co-founded by Scott Wu, Steven Hao and Walden Yan.
Why a trading app is buying into AI
Robinhood built its brand on stock and crypto trading. Its venture arm, however, is increasingly putting capital into AI. The OpenAI commitment and the Cognition investment together point to a clear focus on AI software engineering.
What this means
For Robinhood, the bet is less about the size of the check and more about exposure. A $10 million stake in a $48 billion company is a small slice, but it gives the venture arm a foothold in one of the fastest-growing applied AI businesses.
OpenAI’s Codex and Cognition’s Devin compete for the same developers and the same enterprise budgets. Robinhood is effectively funding both sides of a rivalry.
For Cognition, the investment adds another recognizable name to an investor list that already includes major venture firms. It also brings in a backer from the finance sector, which could be useful as the company courts more banks after landing Citi.
A move from $26 billion to $48 billion between May and September 2026 bakes in high expectations. Revenue jumping from approximately $492 million to nearly $900 million in that same window is the business story behind that valuation move.
Disclosure: This article was edited by Diego Almada Lopez. For more information on how we create and review content, see our Editorial Policy.