How Did This AI Startup Reach a 5.5 Billion Valuation
Cohere Secures Major Investment as AI Funding Reaches New Heights in 2023
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Cohere, an artificial intelligence startup based in Toronto, announced a $500 million Series D funding round, raising its valuation to $5.5 billion. The funding round involved multiple investors, including PSP Investments, Cisco, Fujitsu, AMD Ventures, Export Development Canada, Nvidia, and Salesforce Ventures. Cohere focuses on developing large language models used for AI data learning and text generation. The company previously raised $270 million in a Series C round in June 2023, which brought its valuation to $2.2 billion. Since its founding in 2019, Cohere has accumulated nearly $935 million in total funding.
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