Writer AI platform attracted $100 million in funding

The Writer platform, a generative AI platform for enterprises, attracted $100 million in a Series B funding round led by ICONIQ Growth.

Other participants included WndrCo, Balderton Capital, Insight Partners, Aspect Ventures, and a number of the firm’s clients, including Accenture and Vanguard.

Writer will allocate the funds to develop its own industry-specific large language models with multimodal capabilities.

The platform is aimed at business users and provides a full stack of capabilities for building AI products, with support spanning sales, human resources, and marketing.

According to the press release, Writer not only enables enterprises to develop its own foundational models but also offers ready-made applications.

A study of 50 corporate clients showed that using Writer’s solutions freed, on average, 7.5 hours of work per week per employee.

In 2021 the platform raised $21 million in a Series A round led by Balderton Capital and Insight Partners. In 2020 Writer raised $5 million in seed funding with participation from Aspect Ventures.

The company said that over the past two years revenue has grown by dozens of times.

In September, the defence-focused AI developer Helsing closed a Series B round of €209 million.