Who is betting on what in AI, and against whom.
What it does
Cohere sells enterprise and sovereign models rather than a consumer chatbot. It reached about $240M in annual recurring revenue in 2025 at a $7B valuation and has said it hopes to list soon, but had not filed as of mid-2026. In April 2026 it agreed to merge with Germany's Aleph Alpha at a combined value of about $20B, with Schwarz Group putting $600M into its Series E.
Camp membership over time
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dates not recorded
Capital
| Amount | Kind | Valuation | Date | Investors | Source |
|---|---|---|---|---|---|
| $270M | Series C | $2.20B post-money | Jun 2023 | Inovia Capital, Nvidia, Oracle, Salesforce Ventures | BetaKit |
| $500M | Series D | $5.5B post-money | Jul 2024 | PSP Investments, Cisco, Fujitsu, AMD Ventures | BetaKit |
| $500M | funding round | $6.80B post-money | Aug 2025 | Nvidia, Salesforce Ventures | CNBC |
| $600M reported | Series E (announced) | $20B reported | Apr 2026 | Schwarz Group Announced with the Aleph Alpha merger; expected to close later in 2026. | TechCrunch, CNBC |
People
General sources
CNBC 2026-02-13