Co-founded by A&S alumni, AI start-up Cohere closes $125M Series B

February 15, 2022 by Josh Scott

Toronto-based artificial intelligence (AI) startup Cohere has secured $125 million USD ($159 million CAD) in Series B financing to fuel its United States expansion plans. 

The startup plans to use the fresh capital to fuel its platform development efforts, expand its team, and open a new office in Palo Alto, California, which will be run by former Apple Director Bill MacCartney, who has joined Cohere as VP of engineering and machine learning.

Co-founded by CEO Aidan Gomez (BSc 2018), Ivan Zhang, and Nick Frosst (BSc 2016) in 2019, Cohere claims its API enables companies to deploy NLP capabilities across their businesses without requiring supercomputing infrastructure or AI expertise, which it says “radically reduces the cost for companies of all sizes to access leading AI models.”

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