Cohere, a Toronto, Canada-based natural language processing (NLP) platform provider, raised $125 million in Series B funding.
The round was led by Tiger Global, with participation from founding investor Radical Ventures and returning investors Index Ventures and Section 32.
The company intends to use the funds to scale in all directions, growing the team and increasing the compute capacity to train large language models (LLMs).
Cohere has also announced that Bill MacCartney has joined as Vice President of Engineering and Machine Learning, and will spearhead the opening of the company’s new Palo Alto office.
Company: Cohere Inc.
Raised: $125.0M
Round: Series B
Funding Month: February 2022
Lead Investors: Tiger Global
Additional Investors: Radical Ventures, Index Ventures, and Section 3
Company Website: https://cohere.ai/
Software Category: Natural language processing (NLP) platform
About the Company: Led by CEO Aidan Gomez, Cohere provides access to Natural Language Processing (NLP) through an API. Cohere’s models are capable of composing, comparing, and comprehending natural language, making it a full-stack NLP solution that reduces the cost for companies of all sizes to access large language models (LLMs). The technology can be applied to any industry. Its API is powered by models that have read hundreds of millions of pages of text and learned to understand the meaning, sentiment, and tone of the language down to syntax, semantics, and context––enabling companies to derive insights and streamline language-intensive tasks.
Source: https://www.finsmes.com/2022/02/cohere-raises-125m-series-b-funding.html