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NLP Startup Cohere Snags $40 Million in Fresh Funding
Natural language processing startup Cohere announced this week it has received $40 million in new investments after completing a series A financing round.
Cohere was founded by three well-versed AI professionals, who sought to create a company that made deep-learning AI resources safe and accessible, without the need for overly complex IT infrastructure. According to official sources, the new funds will be primarily used to include additional employees to Cohere’s staff, as well as to expand the availability of the Cohere platform.
“Natural Language Understanding is the biggest technological opportunity of the next decade. Nearly all data generated by humans is in the form of language, but few companies today have the resources to leverage it,” commented Cohere co-founder and CEO, Aidan Gomez,“At Cohere, we want to simplify the relationship between people and machines, eliminating the language barrier that prevents us from interacting with technology the way we interact with each other, paving the way for new opportunities for innovation and creativity.”
The investment round was led by Index Ventures, and included support from a number of notable AI-focused professionals including Turing Award winner Geoffrey Hinton, Fei-Fei Li, Pieter Abbeel, and Raquel Urtasun. Cohere also received additional financing from previous investor, Radical Ventures.
“Cohere’s deep technical expertise makes them the perfect team to bring NLP to the global marketplace,” said Mike Volpi, co-founder of Index Ventures. “We look forward to working with Cohere as they democratize access to one of the most important technologies of our time.”
Edited by Maurice Nagle
