Cohere raises $500 million in new funding, pushing its valuation to $6.8 billion

Cohere has raised $500 million in a new funding round, pushing its valuation to $6.8 billion. The Canadian company builds AI models and services for enterprise customers.

Alongside the funding news, Cohere is bringing in Joelle Pineau as its new Chief AI Officer. Pineau previously served as VP of AI Research at Meta, where she led the FAIR team. She is also a professor at McGill University and a member of the Mila Institute in Montréal, and will continue her work with both organizations while joining Cohere.

Cohere's previous funding round was in July 2024, when it also raised $500 million at a $5.5 billion valuation. Major backers include Canadian pension fund PSP Investments, Cisco, Fujitsu, AMD, and export credit agency EDC.