Writer, a startup developing a full-stack generative AI platform for businesses, has successfully raised $100 million in a Series B funding round. The round was led by ICONIQ Growth, with participation from WndrCo, Balderton Capital, Insight Partners, Aspect Ventures, and Writer customers Accenture and Vanguard. This brings Writer’s total raised capital to $126 million, valuing the company between $500 million and $750 million post-money.
Key Takeaway
Writer secures
00 million in Series B funding to enhance their generative AI platform targeted at enterprise applications. Differentiating itself through non-copyrighted business writing training and smaller, cost-effective models, Writer enables businesses to leverage generative AI with ease.
Meeting the demand for enterprise-focused generative AI
Writer’s recent funding will be utilized to further develop their industry-specific text-generating AI models. May Habib, Writer’s co-founder and CEO, explained that many enterprises are still in the early stages of exploring generative AI, often building internal applications. However, more impactful use cases require expertise in retrieval augmented generation, data gathering and cleaning, and workflow construction. Writer aims to simplify these tasks, allowing enterprises to leverage generative AI with ease.
One of Writer’s key differentiators is their ability to connect their models to a company’s knowledge base, providing additional context for generated text. While Writer faces competition from companies like OpenAI, Anthropic, AI21 Labs, Mistral AI, Jasper, Cohere, and Typeface, it stands out by training its models on non-copyrighted business writing and offering smaller, more cost-effective models. Writer also emphasizes transparency by allowing customers to inspect the code, features, and data of its models while ensuring that they are never trained on customer data.
Catering to customer needs
Writer’s platform enables customers to connect their models to various data sources, improving research, fact-checking, and question-answering capabilities. It also allows companies to enforce regulatory, legal, and brand rules across its platform. These features have attracted numerous high-profile customers, including Intuit, United Healthcare, UiPath, Spotify, L’Oreal, Uber, and Accenture. With a team of 100 employees based in San Francisco, Writer has experienced significant revenue growth, increasing tenfold over the past two years.
