AI startup Cohere raises $270M, valued at over $2.1B

Cohere, an AI startup that aims to provide an AI model ecosystem for enterprises, has announced a $270m funding round as part of its Series C. The company aims to create a cloud-agnostic platform that allows clients to leverage world-class AI in ways that are accessible, customisable and data-secure. It intends to use the funding to continue to grow its team, invest in computing resources, collaborate with more of the world’s leading enterprises and advance its AI capabilities, empowering its clients to build innovative products focused on data privacy and security. Cohere, which values at around $2.1bn to $2.2bn after the funding round, focuses on using AI to enable enterprises to transform their products and services. Cohere’s language models have been trained on data from users in numerous languages; its cloud-agnostic AI platform is able to be deployed inside public clouds, a customer’s existing cloud, virtual private clouds or on-site.