Cohere Raise $270m

To date Cohere has now raised an impressive $445m; giving them a total valuation of $2.2B.

This latest round was a Series C led by Inovia Capital, with participation from Nvidia, Oracle, Salesforce Ventures, DTCP, Mirae Asset, Schroders Capital, SentinelOne, Thomvest Ventures, and Index Ventures.

Product 💻

Cohere is developing a platform that aims to tear down the language barrier between humans and machines.

Their AI tools are used across multiple functions and are designed to adapt to unique enterprise needs. They offer customisable language models that can be deployed to various cloud platforms, providing flexibility, data control, and high-level data security and privacy. The models can generate text, summarise content, and perform semantic text search across any document type in English or in 100+ languages.

Story 📚

Cohere was co-founded in 2019 by Aidan Gomez, Ivan Zhang, and Nick Frost (a former employee at Google’s Toronto AI lab), and Martin Kon - previously CFO at YouTube - who joined the team in early 2023.

Despite its relative newcomer status, Cohere has attracted significant funding, raising a total of $445m. Luckily, they’re intentional about maintaining a diversity of global investors and remaining independent to preserve their ability to service enterprises directly, and deploy data-secure solutions on any cloud according to its customers' preference

Future Plans 🔮

This investment will help Cohere grow its team, engage with more of the world's leading enterprises, and further advance their AI capabilities. Additionally, Cohere sees search and retrieval - techniques that give models or chatbots the ability to expand on their knowledge base and search the web for information - as the next core area of growth.

Furthermore, Cohere plans to build models that can take action and "do work" for customers, such as booking flights, scheduling meetings, or filing expense reports on a person's behalf.

AutoGPT 2.0 inbound?