Based in San Francisco Writer closed a $200 million Series C that values its enterprise generative AI platform at $1.9 billion.
The latest valuation represents a significant increase from the $500 million the company was valued at following its $100 million round led by Iconiq development last yr.
The latest Series C was co-led by Iconiq, Rewards for investing AND Radical undertakingswith the participation of investors, including: Salesforce Ventures 1, Adobe Ventures, Capital B, Citi ventures, IBM ventures AND Business day activities. Current investors Accenture, Balderton capital, Insight partners AND Van also participated.
The Writer platform is designed to assist corporations use large language models to streamline workflows and offers AI solutions that may perform complex enterprise operations across systems and teams. The latest funding shall be used to rapidly launch AI applications and agents that support workflows in healthcare, retail and financial services.
“At Writer, we not only create LLMs that can get things done, we also develop advanced AI systems that enable mission-critical enterprise work,” said co-founder and CEO May Habib. “With this new funding, we are focused on delivering next-generation autonomous AI solutions that are secure, reliable and adaptable to highly complex, real-world enterprise scenarios.”
Writer continues to grow its client base, which incorporates brands reminiscent of Accenture, L’Oreal AND Uber.
Artificial intelligence is real money
Writer’s latest round is the latest example of investors’ never-ending thirst for artificial intelligence.
In October, artificial intelligence was by far the leading sector in enterprise funding, with enterprise funding startups receiving $12.2 billion in funding, representing 38% of total monthly funding.