Latest news with #FrancoisChadwick
CNBC
2 days ago
- Business
- CNBC
AI startup Cohere valued at $6.8 billion in latest fundraise, appoints new executives
Cohere was valued at $6.8 billion after its latest $500 million funding round, as the artificial intelligence startup moves to expand its market share in a highly competitive industry. The funding round was led by Radical Ventures and Inovia Capital, with participation from existing investors AMD Ventures, Nvidia, PSP Investments, and Salesforce Ventures, among others. Unlike most AI companies like OpenAI and Meta's Llama, which are focused on broad foundational models, Cohere builds enterprise-specific AI models. In January, it launched North, a ChatGPT-style tool designed to help knowledge workers with tasks such as document summarization. The company said it will use the new funding to advance agentic AI that can help businesses and governments operate more efficiently. Alongside the fundraise, Cohere appointed Joelle Pineau, former Vice President of AI Research at Meta, as Chief AI Officer, and Francois Chadwick, former CFO at Uber and Shield AI, as Chief Financial Officer. The fundraise comes amid a broader surge in AI financing, as private equity and Big Tech channel capital into startups in pursuit of strong returns from innovative AI products.
The Star
2 days ago
- Business
- The Star
AI startup Cohere valued at $6.8 billion in latest fundraise, appoints new executives
(Reuters) -Cohere was valued at $6.8 billion after its latest $500 million funding round, as the artificial intelligence startup moves to expand its market share in a highly competitive industry. The funding round was led by Radical Ventures and Inovia Capital, with participation from existing investors AMD Ventures, NVIDIA, PSP Investments, and Salesforce Ventures, among others. Unlike most AI companies like OpenAI and Meta's Llama, which are focused on broad foundational models, Cohere builds enterprise-specific AI models. In January, it launched North, a ChatGPT-style tool designed to help knowledge workers with tasks such as document summarization. The company said it will use the new funding to advance agentic AI that can help businesses and governments operate more efficiently. Alongside the fundraise, Cohere appointed Joelle Pineau, former Vice President of AI Research at Meta, as Chief AI Officer, and Francois Chadwick, former CFO at Uber and Shield AI, as Chief Financial Officer. The fundraise comes amid a broader surge in AI financing, as private equity and Big Tech channel capital into startups in pursuit of strong returns from innovative AI products. (Reporting by Kritika Lamba in Bengaluru)
Winnipeg Free Press
2 days ago
- Business
- Winnipeg Free Press
AI firm Cohere raises US$500 million, giving business US$6.8 billion valuation
TORONTO – Cohere says it's raised US$500 million, giving the Canadian artificial intelligence firm a US$6.8 billion valuation. The funding round was led by Radical Ventures and Inovia Capital, with additional cash from AMD Ventures, Nvidia, PSP Investments, Salesforce Ventures and the Healthcare of Ontario Pension Plan. Cohere says the money will accelerate the Toronto-based company's efforts to build agentic AI products. It says its AI aims to free people from tedious tasks, giving them more time for more interesting and challenging work. In addition to the funding, Cohere announced Joelle Pineau, who was previously Meta's vice-president of AI research, will become the company's chief AI officer. Wednesdays What's next in arts, life and pop culture. Francois Chadwick, who has worked at Uber and KPMG, will become Cohere's chief financial officer. This report by The Canadian Press was first published Aug. 14, 2025.
