Based in San Francisco Writer has locked in a $200 million Series C that values the enterprise-focused generative AI platform at $1.9 billion.
The new valuation represents a nice increase from the $500 million the company was valued at after a A $100 million round led by Iconiq Growth last year.
The new C series was co-led by Iconiq, Premji Invest And Radical companieswith the participation of investors including Salesforce Companies 1, Adobe Ventures, Capital B, Citi Ventures, IBM Enterprises And Work Day Businesses. Existing investors Accenture, Capital Balderton, Insight Partners And Avant-garde also participated.
The Writer platform is designed to help businesses use large language models to improve workflows and delivers AI solutions capable of running complex business operations across systems and teams . The new funds will be used for the company’s fast-start AI applications and for agents for workflows in healthcare, retail and financial services.
“At Writer, we not only create LLMs that can perform tasks, but we develop advanced AI systems that enable business-critical tasks,” said the co-founder and CEO. May Habib. “With this new funding, we are focused on delivering the next generation of autonomous AI solutions that are secure, reliable and adaptable in highly complex, real-world business scenarios. »
Writer continues to expand its clientele, which includes names like Accenture, L’Oreal And Uber.
Artificial intelligence equals real money
Writer’s new funding round is just the latest example of investors’ relentless thirst for all things AI.
In October, AI was by far the leading sector in venture funding, with these startups seeing $12.2 billion in funding – or 38% of total monthly funding.
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Illustration: Dom Guzman
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