Writer, a company specializing in generative artificial intelligence (AI), completes a new funding round that values it at $1.9 billion. The young company is starting to become a key player in this booming sector.
Writer offers a complete platform for businesses
The $200 million Series C round was co-led by Premji Invest, Radical Ventures and ICONIQ Growth. Funds from several technology giants, such as Salesforce Ventures, Adobe Ventures, IBM Ventures and Workday Ventures, also participated. It brings the total cash raised by Writer to $326 million.
The American startup, founded in 2020, offers a complete AI platform to businesses. This makes it possible to automate and optimize their tasks. At the heart of its offering is Palmyra, its own family of text generation templates, which can be customized to each company’s specific needs.
Writer also focuses on developing AI agents that can plan and execute complex workflows across different systems and teams, all framed by customizable guardrails to ensure usage complies with company policies. business.
The solution includes no-code development tools, making AI accessible to non-technical teams. This explains in particular its adoption by major companies like Salesforce, Uber, L’Oréal and Qualcomm.
Strengthening its position
Above all, the startup stands out by training its models on synthetic data, meaning that it is itself generated by artificial intelligence. A strategy that allows him to save significant sums.
“ With this new funding, we are focused on delivering the next generation of autonomous AI solutions that are secure, reliable, and adaptable to highly complex, real-world business scenarios », Says May Habib, CEO of Writer. Thus, thecompany will accelerate its product development and strengthen its position in the generative AI sector for businesses.
A craze that does not slow down
This new fundraising once again demonstrates the immense enthusiasm generated by artificial intelligence among investors. A dynamic that continues even as startups developing the technology struggle to become profitable.
Jim Covello, head of global equity research at Goldman Sachs, pointed out in a report that “ the promise of AI has yet to be realized in a truly transformative application “.
- The startup Writer, specializing in generative AI, raises $326 million, bringing its valuation to $1.9 billion.
- It offers a comprehensive AI platform to businesses.
- This fundraising reflects the frenzy around generative AI, with investors not hesitating to invest large sums in the technology despite the difficulty for startups to return to profitability.
