Leading game changer in fast-growing generative artificial intelligence industry
Country: Canada
Founded: 2019
Valuation: $5.5 bn
Team: Aidan Gomez, Ivan Zhang, Nick Frosst
About Company
Cohere is a TOP-3 language model company with an exclusive B2B focus. It offers enterprise deployment (private & public cloud, or on-premise). It reached the revenue stage in 2022 while spending 3x less to achieve the result of its giant competitors: Microsoft (Open AI), Google (Deepmind & Bard), Meta. It is independent and fully funded, is engaged in partnerships with Oracle, Google, SAP, and has first-class investors (Nvidia, Alphabet, Tiger Global, and others)
Key Investors
Key Highlights
- $22 m ARR in Q1 2024 and expected CAGR of 490+% until 2026 end due to low base - 2.6x valuation growth in June 2024’ Round D over 2023 Round C - Product: Company's models read multiple web pages, teach users to understand the meaning, sentiment, and tone of the words being used, and enable clients to improve comprehension capabilities to build more personalized user experiences - Cohere has two types of LLM: generation and representation. The former is what ChatGPT does, the latter is for understanding language (for example, to perform sentiment analysis). Each type comes in different sizes: small, medium, large, and xlarge - On par with Open AI in most metrics (based on the “win rate”) but has a more flexible pricing policy and offers data control to clients - Excellent management and co-founders team: Nick Frosst, CEO (ex-Google Brains), Aidan Gomez (ex-Google Brains), Ivan Zhang (ex-ML Ops)
About Company
Cohere is a TOP-3 language model company with an exclusive B2B focus. It offers enterprise deployment (private & public cloud, or on-premise). It reached the revenue stage in 2022 while spending 3x less to achieve the result of its giant competitors: Microsoft (Open AI), Google (Deepmind & Bard), Meta. It is independent and fully funded, is engaged in partnerships with Oracle, Google, SAP, and has first-class investors (Nvidia, Alphabet, Tiger Global, and others)
Key Investors
Key Highlights
- $22 m ARR in Q1 2024 and expected CAGR of 490+% until 2026 end due to low base - 2.6x valuation growth in June 2024’ Round D over 2023 Round C - Product: Company's models read multiple web pages, teach users to understand the meaning, sentiment, and tone of the words being used, and enable clients to improve comprehension capabilities to build more personalized user experiences - Cohere has two types of LLM: generation and representation. The former is what ChatGPT does, the latter is for understanding language (for example, to perform sentiment analysis). Each type comes in different sizes: small, medium, large, and xlarge - On par with Open AI in most metrics (based on the “win rate”) but has a more flexible pricing policy and offers data control to clients - Excellent management and co-founders team: Nick Frosst, CEO (ex-Google Brains), Aidan Gomez (ex-Google Brains), Ivan Zhang (ex-ML Ops)