Writer's AI models can be connected to a company's knowledge base, providing additional context. The company competes with other AI text generation platforms like OpenAI, Anthropic, AI21 Labs, and Mistral AI. However, Writer differentiates itself by training its models on non-copyrighted business writing, making them smaller and more cost-effective, and ensuring they are never trained on customer data. The company has hundreds of customers, including Intuit, United Healthcare, UiPath, Spotify, L’Oreal, Uber, and Accenture, and claims to have grown revenues by 10x in the last two years.
Key takeaways:
- Writer, a startup developing a generative AI platform for businesses, has raised $100 million in a Series B funding round led by ICONIQ Growth, bringing its total funding to $126 million and valuing the company between $500 million and $750 million.
- The new funding will be used to develop Writer's industry-specific text-generating AI models, which are designed to make the process of data gathering, cleaning, and workflow construction easier for enterprises.
- Writer's models can be connected to a company's knowledge base for additional context and are trained on non-copyrighted business writing. The company also emphasizes that its models are cost-effective, transparent, and never trained on customer data.
- Writer has hundreds of customers including Intuit, United Healthcare, UiPath, Spotify, L’Oreal, Uber and Accenture, and claims to have grown revenues by 10x in the last two years.