Cohere raises $500M Series D at $6.8B valuation
The round, co-led by Radical Ventures and Inovia Capital, came with Joelle Pineau, formerly Meta's VP of AI research, joining as chief AI officer.
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Enterprise-focused AI company Cohere raised a $500 million Series D round, valuing the Toronto-based firm at $6.8 billion. The round was co-led by Radical Ventures and Inovia Capital, with participation from AMD Ventures, Nvidia, PSP Investments, Salesforce Ventures and the Healthcare of Ontario Pension Plan.
Cohere said the capital would fund development of agentic AI products aimed at handling routine enterprise tasks, along with continued hiring; the company had grown from around 250 employees at the start of the year and planned to double headcount in 2025. Alongside the funding, Cohere announced two senior hires: Joelle Pineau, formerly Meta’s vice president of AI research, as chief AI officer, and Francois Chadwick as chief financial officer.
Unlike OpenAI, Anthropic and Google DeepMind, Cohere has focused on enterprise and government customers rather than consumer chatbots, positioning itself around private deployment and data sovereignty. The raise kept it well behind its larger rivals’ valuations but confirmed continued investor appetite for a dedicated enterprise-AI player even as consumer-facing labs drew most of the industry’s funding and attention that year.