Toronto-based artificial intelligence scaleup Cohere has secured $100 million USD in new financing, lifting its valuation to $7 billion. The funds, a second close of last month’s $500 million round, add BDC and Nexxus Capital Management to an investor list that includes AMD, NVIDIA, Salesforce, Inovia, and Radical Ventures.
Cohere is scaling operations across North America, APAC, and EMEA, opening offices in Paris, South Korea, and Montréal. Founded in 2019, the firm develops large language models powering enterprise AI. Cohere has raised $1.6 billion to date, employs 450, and reported $100 million in annualized revenue.
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