“The union of research and product will realize a world where technology commands language in a way that's as compelling and coherent as ourselves.”

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Cohere is a leading artificial intelligence company specializing in natural language processing (NLP) and machine learning solutions. Founded in 2019 by a team of renowned AI researchers and industry experts, Cohere is headquartered in Toronto, Canada, and has rapidly established itself as a pioneer in transforming how businesses and developers leverage language technology to drive innovation and efficiency.

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Business Model

Cohere’s language models facilitate tasks such as text generation, summarization, translation, and sentiment analysis, allowing businesses to automate processes and gain insights from large text datasets. The Cohere Platform provides a user-friendly interface and API for developers to integrate and customize these models without needing extensive AI expertise. Cohere also offers custom solutions, partnering with organizations to develop tailored NLP applications that address specific business challenges. Through these offerings, Cohere enables businesses to leverage the power of AI-driven language technology effectively.

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Targeted Impact

Cohere aims to make AI-driven language processing more accessible and practical across various industries.

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What Comes Next?

Enhance its product offerings, expand its global reach, and deepen its partnerships across various sectors.

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Who Will benefit?

Businesses and Enterprises, Developers and Data Scientists, Startups, E-commerce Platforms, Researchers and Academics, Content Creators.

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Cohere Growth Timeline

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Cohere and Competition

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2023 Revenue (in Millions of dollars)

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Cohere operates in a competitive landscape with major players like OpenAI, Google, and Microsoft, all of which offer advanced AI and NLP solutions. Cohere differentiates itself with a focus on scalable, customizable NLP models tailored for enterprise use, alongside a strong commitment to ethical AI development. The industry is driven by increasing demand for AI solutions, rapid advancements in AI research, and the need to navigate ethical and regulatory concerns.

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Prominent News

Fujitsu launches Cohere-powered Japanese LLM for enterprise use, October 2, 2024 - Cohere and Fujitsu collaborated to develop a large language model called Takane, which is designed for enterprise use in secure private environments.  Click here to read more.‍

Draftwise enters collaboration with Cohere to refine Gen AI retrieval accuracy, October 9, 2024 - Cohere is partnering with DraftWise to use AI tools to enhance lawyers' ability to search through past deals. This collaboration aims to improve the accuracy of information retrieval by combining DraftWise's existing technology with Cohere's advanced AI, which is well-known for understanding context. Click here to read more.‍

‍Cohere partners with NRI to launch the NRI Financial AI Platform, October 8, 2024. - Cohere and Nomura Research Institute (NRI) are collaborating to launch the NRI Financial AI Platform, which is focused on enhancing overall productivity and operational efficiency for global financial institutions. The platform will be powered by Cohere's enterprise-grade AI models and is set to be released in the first half of 2025. Click here to read more.‍

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Return on Investment (ROI)

ROI computed as of October 14, 2024.

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Funding Round in USD

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Series D Valuation

<span class="date">2024-06-14</span>
<span class="value">$5.5B</span>

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Implied Valuation

<span class="date">2024-10-14</span>
<span class="value">$4.44B<span>

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Change Since Last Round

<span class="date">2024-06-14 → 2024-10-14</span>

<span class="value red">-19.27%</span>

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Quarterly Bid:Ask Volume Ratio

PM Insights highlights the quarterly bid:ask volume ratio where there were at least three institutionally-sized broker contributions within that period.

Q1 of 2024 had the highest total volume at $387M, whereas Q3 of 2024 had the lowest total volume at $160M.

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90D Activity

Activity at each date is the total unique broker contributions (bid/ask/trade) within the last 90 days of that date. Cohere's activity skyrocketed between May and June of 2024 and reached 54 unique broker contributions between February 1, 2024, and April 30, 2024.

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