February 24, 2022
Cohere, a Toronto-based artificial intelligence (“AI”) startup, has recently secured $125M in Series B Financing, aimed at expediting its expansion into the United States. This round was led by Tiger Global, and brings Cohere’s total funding to date to over $170 million.
Founded in 2019, Cohere enables companies to accessibly use and integrate Natural Language Processing (“NLP”) into their businesses, and eliminates the need for extensive AI expertise or supercomputing infrastructure. Cohere’s NLP models have digested millions of pages of text, and have learned to understand the meaning, sentiment, and tone of language, which allows companies to derive insights and streamline language-intensive tasks. In addition to the models’ ability to comprehend, compose and compare natural language, they are continuously evolving and improving.
“For the first time, we’ve brought to market an effective NLP solution that is practical, accessible, and safe,” said Aidan Gomez, Cohere’s CEO. “With the opening of our new Palo Alto office, we’re continuing to scale in all directions, bringing aboard new talent and rapidly increasing our compute capacity to train our next generation large language models.”
Cohere plans on using the funding to further develop its platform, grow its team, and expedite its expansion into the United States.
By: Farrah Kudus