Cohere, a Canadian startup specializing in secure AI tools for enterprises, has successfully raised $500 million in a recent funding round, elevating its valuation to $6.8 billion. The investment, led by Radical Ventures and Ionia Capital, included notable backers such as Nvidia, AMD, and Salesforce. To enhance its competitive edge against industry giants like OpenAI and Anthropic, Cohere appointed Joelle Pineau as Chief AI Officer and Francois Chadwick as CFO. Pineau, previously with Meta, emphasized Cohere’s innovative approach to AI that revolutionizes business operations. Founded in 2019, Cohere focuses on custom large language models (LLMs) for enterprises and aims to prioritize security through private deployments and rigorous threat detection. With a substantial client base in finance and healthcare, including partnerships with Bell and Oracle, the company seeks to become a leading AI partner globally. Cohere’s latest product, North, supports agentic AI deployment in secure private environments, further solidifying its market position.
Source link
Share
Read more