Cohere raised $500 million in venture funding for a $6.8 billion valuation and hired a CFO and Chief AI Officer.
The funding lands as Cohere North, an agentic AI platform, scales up. The funding round was led by Radical Ventures and Inovia Capital with participation from existing investors such as AMD Ventures, Nvidia, PSP Investments and Salesforce Ventures.
Cohere added that Healthcare of Ontario Pension Plan was a new investor.
- Cohere North generally available
- Cohere launches North, aims to be an AI agent workspace
- Cohere rolls out Embed 4, an enterprise multimodal search model
As for the new Cohere hires, the company said Joelle Pineau, former head of Meta's Fundamental AI Research, will become Chief AI Officer. Francois Chadwick will become CFO. Chadwick is an alum of KPMG, Uber and Shield AI.
Along with Anthropic, Cohere is one of the leading large language model players focused on the enterprise. "We are at a pivotal moment in accelerating the delivery of secure AI that empowers enterprises worldwide, and we’re excited to enter this new phase of expansion alongside our partners," said Cohere CEO Aidan Gomez.
Cohere said the funding will be used to accelerate agentic AI use cases in businesses and governments primarily through North. The company added that strategic partners such as Oracle, Dell, RBC, Bell, Fujitsu, LG CNS and SAP are using North as a platform.
North uses Cohere's Command A, Command A Vision, Embed 4 and Rerank 3.5 models.
