Despite competition from Google, AWS, Microsoft, and startups like Cohere, OpenAI, and Anthropic, AI21 Labs claims its solutions offer more refined control and are trained on up-to-date data. The company plans to use the latest funding to accelerate its R&D efforts, develop the next level of AI, pursue more partnerships, and increase its 200-person headcount, focusing on roles in research and business development.
Key takeaways:
- AI21 Labs, a startup developing text-generating AI tools, has raised $155 million in a Series C funding round, bringing its total raised to $283 million and valuing the company at $1.4 billion.
- The company's flagship product is AI21 Studio, a developer platform for building custom text-based business apps off of AI21’s proprietary text-generating AI models.
- Despite competition from tech giants like Google, AWS, and Microsoft, AI21 Labs asserts that its solutions are superior, offering more refined control and being trained on up-to-date data.
- The latest funding will be used to accelerate R&D efforts, pursue more partnerships, and increase its 200-person headcount, focusing on roles in research and business development.