2 years ago Microsoft set out to spin an early GenAI lead (courtesy of the OpenAI deal) into corporate & consumer AI gold. @AustinCarr & I take a look at how it's gone, how Satya is hedging bets, building new AI models & navigating changing OAI conditions https://t.co/tdgRwRaXbS
AI firm Cohere doubles annualized revenue to $100 million on enterprise focus https://t.co/snEkfSu6tG
NEWS: Cohere finished 85 % below their projected revenue plan drawn up at for investors at 2023 fund-raise maybe the real moat is paying customers not the model weights? https://t.co/DoYj1wCdMj
Cohere Health, a Boston-based healthcare technology company founded in 2019, has raised $90 million in a Series C funding round led by Temasek, bringing its total funding to $200 million. The company specializes in AI-powered prior authorization solutions for health plans and providers, with clients including Blue affiliates, Geisinger Health Plan, and Medical Mutual. Cohere Health's Unify platform is used by nearly 600,000 providers and processes over 12 million prior authorization requests annually, with up to 90% of cases being auto-approved. The company reports a 93% provider satisfaction rating and achieves margins of 80%. About 85% of its business now comes from private deployments tailored for customers in regulated sectors such as finance, healthcare, and government. The new investment will support the expansion of the Unify platform into broader clinical workflows. Cohere Health maintains human oversight for care decisions and integrates its platform with electronic health records. The company was last valued at $5.5 billion. The Series C round included participation from Flare Capital Partners, Deerfield Management, Define Ventures, Longitude Capital, and Polaris Partners. Cohere Health has been recognized by Gartner, LinkedIn, and KLAS for its contributions to healthcare automation and clinical intelligence.