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Cohere Raises $270 Million from Series C Round
Cohere, an AI model ecosystem for the enterprise, announced that it raised $270 million as part of its Series C round. The company’s AI platform, which is cloud agnostic, is focused on enterprise use cases and allows companies to use their preferred cloud provider to increase data privacy and make implementation simpler. Cohere has developed multilingual language models trained on data from native speakers, among other AI.
Cohere’s Technology
Cohere’s AI platform is cloud agnostic, able to be deployed inside public clouds (e.g. Google Cloud, Amazon Web Services), a customer’s’ existing cloud, virtual private clouds or on-site. The company takes a hands-on approach, working with customers to create custom LLMs based on their proprietary data. Cohere holds its customer numbers close to the chest. However, the startup claims that it works with companies like Jasper and Hyperwrite for copywriting generation tasks like creating marketing content, drafting emails, and developing product descriptions.
Search and Retrieval: A Growth Area for Cohere
Kon says he sees search and retrieval as the next core area of growth for Cohere. Using techniques that give models or chatbots the ability to expand on their knowledge base and search the web for information that’s relevant to a query, Kon believes that Cohere can build significantly more powerful AI systems than it has today. Looking further ahead, Cohere plans to build models that can take action and do work for customers, like book a flight, schedule a meeting, or file an expense report on a person’s behalf.
Series C Round Investors
Inovia Capital led the oversubscribed Series C round with participation from Nvidia, Oracle, Salesforce Ventures, DTCP, Mirae Asset, Schroders Capital, SentinelOne, Thomvest Ventures, and Index Ventures.
FAQs
1. What does Cohere do?
Cohere is developing an AI model ecosystem for the enterprise, providing cloud agnostic AI solutions to companies to increase data privacy and make implementation simpler.
2. What is the focus of Cohere’s AI platform?
Cohere’s AI platform focuses on enterprise use cases, with multilingual language models trained on data from native speakers.
3. Who are Cohere’s customers?
Cohere holds its customer numbers close to the chest. But the startup claims that it works with companies like Jasper and Hyperwrite for copywriting generation tasks like creating marketing content, drafting emails, and developing product descriptions.
4. What do investors think about Cohere?
Inovia Capital led the oversubscribed Series C round with participation from Nvidia, Oracle, Salesforce Ventures, DTCP, Mirae Asset, Schroders Capital, SentinelOne, Thomvest Ventures, and Index Ventures. The high level of investment suggests that investors have confidence in Cohere’s business model and potential growth.
5. What is Cohere’s next area of growth?
Kon says he sees search and retrieval as the next core area of growth for Cohere. Using techniques that give models or chatbots the ability to expand on their knowledge base and search the web for information that’s relevant to a query, Kon believes that Cohere can build significantly more powerful AI systems than it has today.
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