Toronto AI scaleup Cohere has raised $500M USD, boosting its valuation to $6.8B USD. The round was led by Radical Ventures and Inovia Capital, with AMD Ventures, Nvidia, PSP Investments, Salesforce Ventures, and newcomer HOOPP participating.
Cohere also appointed Joelle Pineau, former Meta VP of AI research, as chief AI officer, and Francois Chadwick, ex-Uber acting CFO, as chief financial officer. Pineau will lead research from Montréal, working with Mila. Chadwick’s background spans Uber’s IPO and CFO roles at tech startups. Cohere will use the funds to expand enterprise AI globally.
Want to know more? Check out the source code on BetaKit.