Cohere Secures Us$270 Mln Funding To Empower Businesses With Generative Ai

KUALA LUMPUR, June 9 (Bernama) -- Cohere, the leading artificial intelligence (AI) platform for enterprise, announced US$270 million in new capital as part of its Series C financing. (US$1=RM4.60)

Inovia Capital led the round, with additional participation from a diverse group of global institutional and strategic investors, including NVIDIA, Oracle, Salesforce Ventures, DTCP, Mirae Asset, Schroders Capital, SentinelOne, Thomvest Ventures, and returning investor Index Ventures, some of the most respected technology companies in the world.

“As the early excitement about generative AI shifts toward ways to accelerate businesses, companies are looking to Cohere to position them for success in a new era of technology.

“The next phase of AI products and services will revolutionise business, and we are ready to lead the way,” said Cohere chief executive officer and co-founder, Aidan Gomez in a statement.

Cohere’s AI platform is uniquely designed for enterprises, offering data-secure deployment options in companies’ existing cloud environments, customisation and customer support, including an ecosystem of consulting and system integrator partners to help enterprises at any stage in their AI journey.

Cohere’s enterprise AI suite is cloud-agnostic, offering the highest levels of flexibility and data privacy. It is built to be available on every cloud provider, deployed inside a customers’ existing cloud environment, virtual private cloud (VPC), or even on-site, to meet companies where their data is.

This is to empower businesses to transform existing products and build the next era-defining generation of innovative solutions all while keeping their data secure.

The announcement comes on the heels of Cohere’s momentum in several areas, namely a recent announcement to collaborate with Salesforce Ventures to advance generative AI to realise business value; an engagement with LivePerson to supercharge customer experiences; and a host of additional demand and interest from the enterprise market.

-- BERNAMA