Canada’s Quiet Powerhouse in Enterprise AI

🕵 Our Favourite Finds

• Networking Tech Event in Ottawa (LinkedIn)

• Calgary Startup Tour (LinkedIn)

• Why 75% of startups fail and how to become one of the 25% (Angel Investment)

🏎️ Today’s Company Fast Summary

• Name: Cohere

• Location: Toronto, Ontario​

• Founded: 2019​

• What they do: Enterprise AI

• Team Size: Approximately 800 employees (based on LinkedIn estimates)

• Website: https://cohere.com

• LinkedIn: https://www.linkedin.com/company/cohere-ai/

🚀 What they Do

Cohere is a Toronto-based company specializing in large language models (LLMs) tailored for enterprise applications. They offer AI solutions that prioritize data privacy, security, accuracy, and customization.

These models are accessible via API and can be deployed within a company's secure environment .​

🔍 Why It’s Cool / Different

While many AI developments focus on consumer applications, Cohere distinguishes itself with an enterprise-first approach.

They compete with industry leaders like OpenAI and Google by providing adaptable AI solutions designed to meet the security and performance requirements of businesses. Their models can be deployed on major cloud providers or within a company's private cloud .​

🧑‍💻 Who’s Behind It

Cohere was founded by Aidan Gomez, co-author of the influential "Attention Is All You Need" paper that introduced the Transformer architecture; Nick Frosst; and Ivan Zhang.

The founding team has deep expertise in AI research, with Frosst and Zhang previously working at Google Brain under AI pioneer Geoffrey Hinton .​

📈 Quick Stats / Highlights

• Funding: As of July 2024, Cohere raised $500 million USD in a Series D funding round, bringing its valuation to $5.5 billion. Investors include PSP Investments, Nvidia, Oracle, Salesforce Ventures, and Fujitsu .​

• Customers and Partnerships: Cohere collaborates with global enterprises, startups, and major technology partners. Notable partnerships include collaborations with Oracle, Accenture, and McKinsey to integrate AI solutions into various business processes .​

• Product Status: Cohere offers multiple models, including Command for text generation, Embed for text understanding, and Rerank for search optimization. These models are available via API and support various deployment options .​

🧭 Why You Should Watch Them

As businesses globally strive to integrate generative AI responsibly and effectively, Cohere's focus on enterprise-grade solutions and data security positions it as a significant competitor in the foundational AI model landscape.

Their strong Canadian research roots further enhance their credibility in the field.

🌯 That’s a Wrap

Before you go…

If you know of a Company or Startup that could be featured in the Newsletter, Click Here