.jpg)
4 hours ago
1
Article content
Cohere Inc. chief executive Aidan Gomez said the artificial intelligence startup has “more than doubled” its revenue since the start of this year and is approaching profitability, even as it faces heightened competition for business customers from OpenAI and Anthropic.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
Article content
“We are seeing a total takeoff on the enterprise side of the business,” Gomez told Bloomberg Television in an interview Tuesday. “We are seeing these enterprise deployments hit the hands of every employee in the organization.”
Article content
Article content
Reuters previously reported Cohere was on pace for US$100 million in annualized revenue, as of May.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
The growth in Cohere’s enterprise business is also putting the startup on a path for profitability in the near term, Gomez said. “We’re very, very close to crossing that line and becoming profitable. We’re not far away.”
Article content
Gomez said the startup expects to “continue to fund raise and grow” as it approaches an initial public offering, but he declined to provide an update on any ongoing funding discussions.
Article content
Article content
Advertisement 1
English (US)