San Francisco-based Writer locked up a $200 million Series C that values the enterprise-focused generative AI platform at $1.9 billion.
The new valuation is a nice uptick from the $500 million the company was valued at after a $100 million round led by Iconiq Growth last year.
The new Series C was co-led by Iconiq, Premji Invest and Radical Ventures, with participation from investors including Salesforce Ventures 1, Adobe Ventures, B Capital, Citi Ventures, IBM Ventures and Workday Ventures. Existing investors Accenture, Balderton Capital, Insight Partners and Vanguard also participated.
Writer’s platform is designed to help businesses use large language models to improve workflows and offers AI solutions that can execute complex enterprise operations across systems and teams. The new cash will be used for the company’s quick-start AI applications and agents for workflows in healthcare, retail and financial services.
“At Writer, we’re not just creating LLMs that can execute tasks but developing advanced AI systems that deliver mission-critical enterprise work,” said co-founder and CEO May Habib. “With this new funding, we’re laser focused on delivering the next generation of autonomous AI solutions that are secure, reliable, and adaptable in highly complex, real-world enterprise scenarios.”
Writer continues to grow its customer base, which includes names like Accenture, L’Oreal and Uber.
Artificial intelligence equals real cash
Writer’s new round is just the latest example of investors’ never-ending thirst for all things AI.
In October, AI was by far the leading sector in venture funding, with such startups seeing $12.2 billion in funding — or 38% of total monthly funding.
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Illustration: Dom Guzman
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