Cohere, a Toronto-based company, offers enterprise-focused LLMs, including a model called Cohere R+ that can process prompts containing up to 128,000 tokens. The model can analyze lengthy business documents and code files, understand 10 languages, and integrate with third-party systems. The company's annualized recurring revenue is believed to have been $35 million at the end of March, up from $13 million last year. The new funding could potentially accelerate the company's commercialization efforts and aid in the development of a successor to Command R+.
Key takeaways:
- OpenAI rival Cohere Inc. has reportedly raised $450 million in fresh funding at a $5 billion valuation, with participation from multiple existing investors including Nvidia Corp. and Salesforce Ventures.
- Cohere's investor roster includes Oracle Corp., SentinelOne Inc., and several venture capital funds, and the latest raise also drew contributions from new backers such as Cisco Systems Inc. and PSP Investments.
- Cohere offers a collection of enterprise-focused LLMs, including a model called Cohere R+ that can process prompts containing up to 128,000 tokens and can carry out multi-step business tasks spanning several different applications.
- The company's annualized recurring revenue is believed to have stood at $35 million at the end of March, up from $13 million last year, and the fresh funding could potentially help it accelerate its commercialization efforts.