Writer, an enterprise-focused AI platform, has secured $100 million in a Series B funding round to support the development of its Generative AI (GenAI) technology. This latest funding brings the company’s total capital raised to $126 million and increases its valuation to an estimated range of $500 million to $750 million.
ICONIQ Growth led the Series B round, with participation from investors including WndrCo, Balderton Capital, Insight Partners, Aspect Ventures, and Writer’s customers Accenture and Vanguard. This funding is considered a significant step in Writer’s growth journey.
Writer’s platform combines Large Language Models (LLMs), Natural Language Processing (NLP), and Machine Learning (ML) with an organization’s knowledge and processes to create a customized AI solution. The platform is designed to be enterprise-ready, offering security, privacy, and the flexibility to operate within an enterprise’s virtual private cloud.
May Habib, Co-founder and CEO of Writer, emphasized that many enterprises are exploring generative AI but often face challenges related to data gathering, cleaning, and workflow construction, which can make up the majority of the work. Writer’s platform aims to simplify these processes, making it more accessible and practical for enterprises.
Recent research involving over 50 enterprise clients showed that using Writer can significantly boost productivity, with an average weekly time savings of 7.5 hours per employee.
Writer’s focus on generative AI technology and its ability to streamline complex processes for enterprises positions it as a valuable player in the AI industry, with its latest funding round fueling further development and expansion.
By FCCT Editorial Team
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