Cohere targets CAD $7B Series E at CAD $35.7B valuation, a Canadian record
AkariAsai · x · 2026-10-30
Cohere announced the initial close of its Series E, targeting up to CAD $7 billion at a CAD $35.7 billion valuation — the largest private financing round in Canadian startup history.
Nils Reimers reflected that when he joined 4+ years ago, AI was a niche product and LLMs were seen as phone-style autocomplete. His org built the market's best retrieval systems, first for humans — but AI agents are now their largest users, forcing a rethink of what makes search great for AI. Search, knowledge finding and knowledge management remain open problems, he said.
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