Cohere Raises $500 Million Led by Radical and Inovia, Valued at $6.8B

Generative-AI specialist Cohere has raised $500 million in an oversubscribed funding round that lifts the Toronto-based company’s valuation to $6.8 billion, according to statements released Thursday. The financing was co-led by Radical Ventures and Inovia Capital, with additional backing from existing investors including Nvidia, AMD Ventures, Salesforce Ventures and the Healthcare of Ontario Pension Plan. Cohere said the fresh capital will help it scale sales of its security-focused large-language models, which are designed for corporate and government clients. The company has doubled annual recurring revenue to roughly $100 million since the start of 2025, underscoring rising demand from enterprises that want alternatives to offerings from OpenAI, Anthropic and other rivals. As part of the expansion, Cohere hired Joelle Pineau, formerly Meta’s AI research vice president, as chief AI officer and named former Shield AI executive Francois Chadwick as chief financial officer. Founded in 2019 by former Google researchers including Aidan Gomez, Cohere has now raised about $1.5 billion in total funding.