Enterprise AI platform Cohere raises $270m in Series C financing

• Other investors included NVIDIA, Oracle, Salesforce Ventures, DTCP, Mirae Asset, Schroders Capital, SentinelOne, Thomvest Ventures and Index Ventures
• Cohere was founded by Google Brain alumni and is led by CEO Aidan Gomez
• Its AI platform is designed to provide data-secure deployment options in enterprises’ existing cloud environments, customization and customer support

Cohere, a Toronto-based generative artificial intelligence (AI) platform for enterprises, has secured $270 million in a Series C financing.

Inovia Capital led the round. Other institutional and strategic investors included NVIDIA, Oracle, Salesforce Ventures, DTCP, Mirae Asset, Schroders Capital, SentinelOne, Thomvest Ventures and Index Ventures,  a returning investor.

Cohere was founded by Google Brain alumni and is led by CEO Aidan Gomez. Its AI platform is designed to provide data-secure deployment options in enterprises’ existing cloud environments, customization and customer support. This includes an ecosystem of consulting and system integrator partners to help enterprises at any stage in their AI journey.

The platform is cloud-agnostic, accessible through API as a managed service, and can be deployed on virtual private cloud or even on-site to meet companies where their data is.

“Our entire raison d’être is to invest in great entrepreneurs who have great worldwide mission and ambitions,” said Steve Woods, CTO and a partner at Inovia Capital, in a statement. “Very few ideas can fundamentally change society and add more value to humankind. This is obviously one such opportunity and we are thrilled to partner with Cohere to be a part of it.”

Headquartered in Montreal, Inovia is a full-stack venture capital firm managing more than $2.2 billion. Founded in 2007, it also has offices in Toronto, Calgary, San Francisco and London.‍