The Toronto-based firm told investors in 2023 that it would make US$450 million in sales in 2024, but was on track for US$70 million in annual revenue as of this February, The Information reported. Cohere told the publication it has doubled monthly revenue since December, but did not provide figures. (The Information)
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The Toronto-based firm told investors in 2023 that it would make US$450 million in sales in 2024, but was on track for US$70 million in annual revenue as of this February, The Information reported. Cohere told the publication it has doubled monthly revenue since December, but did not provide figures. (The Information)
Talking point: The startup makes large language models for workplace use, and primarily targets big businesses in regulated industries that are concerned with privacy and security. Last June, Cohere CEO Aidan Gomez called for businesses to “commit and start adopting” AI. But enterprise use has not grown as quickly as that of consumer tools like ChatGPT. Silicon Valley AI leaders OpenAI and Anthropic sell to both markets, and are generating billions in revenue. The Information also reported that Cohere recently acquired Cognosys, a startup that makes AI research tools.
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