Monthly roundup · Software · September 2026

Software startup funding, September 2026: Cognition's $2.0B Series E leads 21 rounds

By Millionrounds ResearchPublished 1 October 2026Updated 19 October 2026

We read 21 equity rounds in Software announced in September 2026, raising $3.4B between them: 6% of all the rounds we read that month and 9% of the money. The largest was Cognition's $2.0B Series E, led by Andreessen Horowitz and Accel. The median seed round was $4.8M, against $5.0M over the last twelve months in Software; at Series A it was $13M. Menlo Ventures led the most rounds, with 2.

Equity rounds21in Software, 19 with an amount

Raised$3.4Bacross those rounds

Lead named86%of rounds say who led

Share of the month6%of rounds; 9% of the money

The biggest rounds

Day by day

Equity rounds in Software announced each day of September. The busiest day was 16 September, with 3.

1 September30 September

By stage, against the year

Each stage's median this month beside its twelve-month median: the sector's own where we hold enough rounds for a benchmark, otherwise the one across all sectors.

Pre-seed5$2.0Mthis month$2.0M12 months here

Seed6$4.8Mthis month$5.0M12 months here

Series A4$13Mthis month$18M12 months here

Series B2$23Mthis month$50M12 months, all sectors

Series C1$1.0Bthis month$100M12 months, all sectors

Growth2$200Mthis month$113M12 months, all sectors

The most active leads

Firms that led two or more of the month's rounds in Software.

Menlo VenturesAron, Factory2 led

Where

United States9
United Kingdom3
Australia2
Canada1
Egypt1
United Arab Emirates1
Belgium1
Netherlands1

United States had the most Software rounds this month.

Against the month

Rounds, Software21
Rounds, all sectors357
Raised, Software$3.4B
Raised, all sectors$39B

The whole of September 2026