AI startup Cohere has secured $500 million in funding, elevating its valuation to $6.8 billion. This investment aims to accelerate the development of AI solutions for businesses and governments, with a focus on data security.
The funding round was led by Radical Ventures and Inovia Capital, with participation from existing investors like AMD Ventures and NVIDIA, and new investors including Healthcare of Ontario Pension Plan. Cohere plans to use the capital to advance its agentic AI, designed to improve efficiency while maintaining data control and regulatory compliance.
As part of its growth strategy, Cohere has appointed Joelle Pineau as Chief AI Officer and Francois Chadwick as Chief Financial Officer. Pineau will lead research and product development, while Chadwick will manage the company's finances. Cohere's AI platform offers services such as chatbots, search engines, and summarisation tools, and integrates with platforms like Amazon SageMaker and Google's Vertex AI.
