Writer, an enterprise-focused AI platform, has recently landed $100m in a Series B investment round, as it looks to fund the development of its Generative AI (GenAI) technology.
The company’s latest tranche brings its total capital raised to $126m, and sees the firm’s valuation rise to somewhere between $500m and $750m.
The round was led by by ICONIQ Growth with participation from WndrCo, Balderton Capital and Insight Partners, Aspect Ventures and Writer customers Accenture and Vanguard, and is seen as a vital step on its growth journey.
Co-founder and CEO May Habib, told TechCrunch: “Many enterprises are still just scratching the surface on generative AI, mostly building internal ‘CompanyX-GPT’-type of applications.
“The harder, more impactful use cases require a lot more know-how on retrieval augmented generation, data gathering and cleaning and workflow construction, and they’re realising that that’s 90% of the work.
“That’s the part that Writer makes much easier – and all of the data plus the large language model (LLM) can be hosted in an enterprise virtual private cloud, which makes it workable for enterprises.”
Writer combines LLMs, NLP, and ML with a businesses organisation and knowledge to build a bespoke AI designed specifically for your processes. Its enterprise-ready platform is secure, private, and completely self-built.
Recent research involving over 50 enterprise clients revealed that using Writer boosts productivity, saving an average of 7.5 hours for each employee weekly.
