Writer claims its models are trained on over 1 trillion tokens of formal and business writing, free from intellectual property or copyrighted content. The company also offers prebuilt applications, such as chatbots with templates for different roles. Writer's revenue has reportedly grown more than 10 times in the past two years, with customers including Spotify Inc., Uber Technologies Inc., and L’Oreal SA. The funds from the recent round will be used to add more AI models and build new features for existing ones, with the aim of creating a full stack of enterprise-friendly AI software applications.
Key takeaways:
- Generative AI startup Writer Inc. has raised $100 million in a Series B funding round, valuing the company at $500 million.
- The company offers 14 different AI models that can help businesses with tasks such as content creation, email drafting, and audio transcription.
- Writer's models are trained on over 1 trillion tokens of formal and business writing, and the company claims its Palmyra Large model outperforms competing models on certain benchmarking tests.
- The funds raised will be used to add more AI models and build new features for existing ones, with the aim of creating a "full stack" of enterprise-friendly AI software applications.