German software giant SAP invests in enterprise AI platform Cohere

• SAP announced the deal alongside comparable strategic investments in Aleph Alpha and Anthopic
• These deals complement a more than $1 billion commitment to invest in AI-powered enterprise technology startups from Sapphire Ventures
• Earlier this year, Cohere raised $270 million in a Series C financing

German software company SAP has made a strategic investment in Cohere, a Toronto-based generative artificial intelligence platform for enterprises. No financial terms were disclosed.

SAP announced the deal alongside comparable strategic investments in Germany’s Aleph Alpha and San Francisco-based Anthopic.

The deals complement a more than $1 billion commitment made by SAP to invest in AI-powered enterprise technology startups from Sapphire Ventures, announced last week.

“We are at a watershed moment, with generative AI poised to fundamentally change how businesses run,” said Sebastian Steinhaeuser, chief strategy officer at SAP SE, in a statement. “SAP is committed to creating an enterprise AI ecosystem for the future that complements our world-class business applications suite and helps our customers unlock their full potential.”

Cohere was founded by Google Brain alumni and is led by CEO Aidan Gomez.

Earlier this year, Cohere raised $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.

Aleph Alpha has built a sovereign, full-stack generative AI solution focused on complex and critical enterprise use cases. Anthropic is an AI safety and research company.