Enterprise-focused Canadian AI startup Cohere has raised $500 million in a funding round led by Radical Ventures and Inovia Capital.

The round, which included existing investors AMD Ventures, Nvidia, PSP Investments, and Salesforce Ventures, values the company at $6.8 billion.

Cohere
– Cohere

"The funding allows us to expand more globally, branch off into different modalities, as you saw us launch a command vision model recently, and keep building secure AI for the enterprise," Nick Frosst, co-founder of Cohere, told Reuters.

Alongside the raise, Cohere hired Joelle Pineau, former vice president of AI Research at Meta, as its chief AI officer, and Francois Chadwick, former executive at Uber and Shield AI, as its chief financial officer.

Cohere plans to deploy a multibillion-dollar data center in Canada, built and operated by CoreWeave. The facility, which is expected to open later this year, is backed by CA$240m (US$175m) in federal financing.

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