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Generative AI startup Writer raises $200M at a $1.9B valuation | TechCrunch

Nov 12, 2024 - techcrunch.com
Writer, an enterprise-focused generative AI platform, has raised $200 million in a Series C funding round, bringing its valuation to $1.9 billion. The round was co-led by Premji Invest, Radical Ventures, and ICONIQ Growth, and saw participation from Salesforce Ventures, Adobe Ventures, B Capital, Citi Ventures, IBM Ventures, and Workday Ventures. The new funds will be used for product development and to strengthen the company's position in the enterprise generative AI category.

Founded in 2020, Writer has evolved into a full-stack generative AI platform with customizable products for various enterprise use cases. The company's current focus is on "AI agents" that can plan and execute complex enterprise workflows. Despite intense competition in the generative AI space, Writer has secured hundreds of customers, including Mars, Ally Bank, Qualcomm, Salesforce, Uber, Accenture, L’Oreal, and Intuit. Accenture, Balderton, Insight Partners, and Vanguard also participated in Writer’s Series C round.

Key takeaways:

  • Writer has raised $200 million in a Series C funding round, co-led by Premji Invest, Radical Ventures, and ICONIQ Growth, bringing its total raised to $326 million.
  • The funds will be used for product development and to strengthen Writer's position in the enterprise generative AI category.
  • Writer's AI platform includes products that can be customized for various enterprise use cases, with a focus on "AI agents" that can plan and execute complex enterprise workflows.
  • The company has a strong customer base, including Mars, Ally Bank, Qualcomm, Salesforce, Uber, Accenture, L’Oreal, and Intuit.
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