Cognition’s valuation doubled in 15 weeks. So did its revenue, and the multiple barely moved.

Cognition raised over $2bn at a $48bn valuation, up from $26bn in May. Run-rate revenue rose from $492m to almost $900m over the same period. Both rounds price the company at roughly 53 times run-rate revenue, so the multiple did not expand.

Source: [TNW](https://thenextweb.com/news/cognition-series-e-48bn-flat-multiple)