AI startup Cohere, founded by ex-Google researchers, aims to raise $500M at a $5B valuation, with growing annualized revenue from $13M to $22M.
AI startup Cohere, founded by former Google researchers, is in talks to raise $500M at a $5B valuation. The Toronto-based company's annualized revenue run rate has grown to $22M in Jan from $13M in Dec. Cohere, which competes with OpenAI, plans to make its AI models available on major cloud providers and has a partnership with Oracle. The latest fundraising round could signal investor interest in AI startups with high valuations despite moderate revenue numbers.
March 21, 2024
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