News Summary

Cohere, a Toronto-headquartered company specializing in enterprise AI models, has reached a valuation of $6.8 billion after securing an oversubscribed $500 million funding round. This valuation marks an increase from its previous $5.5 billion valuation. Founded in 2019 by Aidan Gomez, Cohere focuses on providing secure large language models for enterprise use. The recent funding round was led by Radical Ventures and Inovia Capital, with participation from investors such as AMD Ventures, Nvidia, and Salesforce Ventures. Cohere has established partnerships with major enterprise tech companies, including Oracle, Dell, and SAP, and has recently appointed Joelle Pineau from Meta as its chief AI officer.