# Software startup funding, September 2026: Cognition's $2.0B Series E leads 21 rounds > 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. Source: https://millionrounds.com/news/monthly/2026-09/sector/software (Millionrounds; every figure on the page links to its filing or article) Equity rounds **21** in Software, 19 with an amount Raised **$3.4B** across those rounds Lead named **86%** of rounds say who led Share of the month **6%** of rounds; 9% of the money ## The biggest rounds - [1 **Cognition** Series E · United States · led by Andreessen Horowitz, Accel **$2.0B**](https://millionrounds.com/company/cognition) - [2 **Instinct** Series C · United States **$1.0B**](https://millionrounds.com/company/instinct) - [3 **Factory** Growth · United States · led by Menlo Ventures **$200M**](https://millionrounds.com/company/factory) - [4 **Light** Series A · United States · led by Matrix **$46M**](https://millionrounds.com/company/light) - [5 **Gridsight** Series B · Australia · led by Insight Partners **$26M**](https://millionrounds.com/company/gridsight) - [6 **CloudNC** Series B · United Kingdom · led by Nimble Ventures **$20M**](https://millionrounds.com/company/cloudnc) - [7 S **Scaffold** Seed · United States · led by Navitas Capital **$15M**](https://millionrounds.com/company/scaffold) - [8 **Atomic** Series A · United States · led by Madrona Venture Group, Klass Capital **$13M**](https://millionrounds.com/company/atomic) - [9 **Sirdab** Series A · Saudi Arabia · led by BECO Capital, Elm **$10M**](https://millionrounds.com/company/sirdab) - [10 M **Metacognition AI** Pre-seed · Australia · led by Main Sequence Ventures **$10M**](https://millionrounds.com/company/metacognition-ai) ## Day by day Equity rounds in Software announced each day of September. The busiest day was 16 September, with 3. 1 September 30 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-seed](https://millionrounds.com/benchmarks/pre-seed/software) *5* **$2.0M** this month **$2.0M** 12 months here [Seed](https://millionrounds.com/benchmarks/seed/software) *6* **$4.8M** this month **$5.0M** 12 months here [Series A](https://millionrounds.com/benchmarks/series-a/software) *4* **$13M** this month **$18M** 12 months here [Series B](https://millionrounds.com/benchmarks/series-b) *2* **$23M** this month **$50M** 12 months, all sectors [Series C](https://millionrounds.com/benchmarks/series-c) *1* **$1.0B** this month **$100M** 12 months, all sectors [Growth](https://millionrounds.com/benchmarks/growth) *2* **$200M** this month **$113M** 12 months, all sectors ## The most active leads Firms that led two or more of the month's rounds in Software. - [**Menlo Ventures** Aron, Factory *2 led*](https://millionrounds.com/fund/menlo-ventures) ## Where - [United States](https://millionrounds.com/news/monthly/2026-09/united-states) **9** - [United Kingdom](https://millionrounds.com/news/monthly/2026-09/united-kingdom) **3** - [Australia](https://millionrounds.com/news/monthly/2026-09/australia) **2** - [Canada](https://millionrounds.com/news/monthly/2026-09/canada) **1** - Egypt **1** - United Arab Emirates **1** - Belgium **1** - Netherlands **1** United States had the most Software rounds this month. ## Against the month - Rounds, Software **21** - Rounds, all sectors **357** - Raised, Software **$3.4B** - Raised, all sectors **$39B** [The whole of September 2026](https://millionrounds.com/news/monthly/2026-09) ## Other sectors in September [195 rounds **AI** *→*](https://millionrounds.com/news/monthly/2026-09/sector/ai)[51 rounds **Fintech** *→*](https://millionrounds.com/news/monthly/2026-09/sector/fintech)[39 rounds **Healthcare** *→*](https://millionrounds.com/news/monthly/2026-09/sector/healthcare)[30 rounds **Big Data & Analytics** *→*](https://millionrounds.com/news/monthly/2026-09/sector/big-data)[27 rounds **Biotech** *→*](https://millionrounds.com/news/monthly/2026-09/sector/biotech)[25 rounds **Robotics** *→*](https://millionrounds.com/news/monthly/2026-09/sector/robotics)[24 rounds **Cybersecurity** *→*](https://millionrounds.com/news/monthly/2026-09/sector/cybersecurity)[23 rounds **Hardware & Electronics** *→*](https://millionrounds.com/news/monthly/2026-09/sector/hardware)[22 rounds **Enterprise Software** *→*](https://millionrounds.com/news/monthly/2026-09/sector/enterprise-software)[21 rounds **Energy** *→*](https://millionrounds.com/news/monthly/2026-09/sector/energy)[21 rounds **Construction** *→*](https://millionrounds.com/news/monthly/2026-09/sector/construction)[20 rounds **Healthtech** *→*](https://millionrounds.com/news/monthly/2026-09/sector/healthtech)[20 rounds **SaaS** *→*](https://millionrounds.com/news/monthly/2026-09/sector/saas)[19 rounds **Logistics** *→*](https://millionrounds.com/news/monthly/2026-09/sector/logistics)[17 rounds **Manufacturing** *→*](https://millionrounds.com/news/monthly/2026-09/sector/manufacturing)[16 rounds **Cleantech** *→*](https://millionrounds.com/news/monthly/2026-09/sector/cleantech)[14 rounds **Aerospace & Space** *→*](https://millionrounds.com/news/monthly/2026-09/sector/aerospace)[14 rounds **Defence Tech** *→*](https://millionrounds.com/news/monthly/2026-09/sector/defensetech)[13 rounds **Telecoms** *→*](https://millionrounds.com/news/monthly/2026-09/sector/telecom)[13 rounds **Semiconductors** *→*](https://millionrounds.com/news/monthly/2026-09/sector/semiconductors)[13 rounds **Climate Tech** *→*](https://millionrounds.com/news/monthly/2026-09/sector/climate)[11 rounds **Automotive & EVs** *→*](https://millionrounds.com/news/monthly/2026-09/sector/automotive)[10 rounds **Cloud** *→*](https://millionrounds.com/news/monthly/2026-09/sector/cloud) **How this roundup is made** It is written from the rounds we read that month in named articles and filings, by the sectors we file each company under; a company can sit in more than one, so sector roundups overlap. Only equity rounds with a stage count; debt, grants and public companies' raises do not. Each sector with 10 or more equity rounds in a month gets its own roundup. We read more sources every month, so compare medians, not totals. [How we read rounds](https://millionrounds.com/methodology) · [Report a mistake](https://millionrounds.com/corrections)