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Investing.com -- AI company Cohere has secured $500 million in funding at a $6.8 billion valuation in an oversubscribed round led by Radical Ventures and Inovia Capital.
The funding round included participation from existing investors AMD Ventures, NVIDIA, PSP Investments, and Salesforce Ventures, along with new investors such as Healthcare of Ontario Pension Plan ("HOOPP").
Cohere plans to use the new capital to accelerate its development of agentic AI solutions that make businesses and governments more efficient while prioritizing data security. The company focuses on enterprise AI that offers local data control, improved regulatory compliance, and digital sovereignty.
As part of its growth strategy, Cohere announced key leadership additions. Joelle Pineau will join as Chief AI Officer to lead research and product development. Pineau, who will be based in Montreal, is a Professor at McGill University’s School of Computer Science and a core member of Mila, the Québec Artificial Intelligence Institute. She previously served as Meta’s VP of AI Research, leading its Fundamental AI Research (FAIR) team.
Francois Chadwick will join as Chief Financial Officer, based in San Francisco. Chadwick previously served as Uber’s acting CFO, helping with the company’s global finance operations and its IPO. Most recently, he worked at KPMG advising high-growth tech companies after serving as CFO at Shield AI.
The funding follows a year of growth through strategic partnerships with global leaders including Oracle, Dell, RBC, Bell, Fujitsu, LG CNS, SAP, and Ensemble Health Partners. These partnerships aim to deliver AI solutions across industries such as finance, healthcare, telecommunications, manufacturing, energy, and the public sector.
Cohere has also launched several product innovations, including enterprise applications built on its generative model series (Command A and Command A Vision), retrieval models (Embed 4 and Rerank 3.5), and its agentic AI platform, North.
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