AI firm Cohere raises US$500 million, giving business US$6.8 billion valuation

Aidan Gomez, co-founder of Cohere, attends the Collision Conference in Toronto on Tuesday, June 18, 2024.THE CANADIAN PRESS/Chris Young

TORONTO — Cohere says it’s raised US$500 million, giving the Canadian artificial intelligence firm a US$6.8 billion valuation.

The funding round was led by Radical Ventures and Inovia Capital, with additional cash from AMD Ventures, Nvidia, PSP Investments, Salesforce Ventures and the Healthcare of Ontario Pension Plan.

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Cohere says the money will accelerate the Toronto-based company’s efforts to build agentic AI products.

It says its AI aims to free people from tedious tasks, giving them more time for more interesting and challenging work.

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In addition to the funding, Cohere announced Joelle Pineau, who was previously Meta’s vice-president of AI research, will become the company’s chief AI officer.

Francois Chadwick, who has worked at Uber and KPMG, will become Cohere’s chief financial officer.

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Tara Deschamps, The Canadian Press

This report by The Canadian Press was first published Aug. 14, 2025.