AI Startup Writer Pens $100M Round

Writer, a generative AI startup focused on enterprise applications, has raised $100 million in a Series B funding round led by ICONIQ Growth, with participation from WndrCo, Balderton Capital, Insight Partners, Aspect Ventures, and customers Accenture and Vanguard. The funding brings their total to $126 million, valuing the company at $500-750 million post-money. Writer plans to develop industry-specific text-generating AI models, simplifying the more complex aspects of generative AI for enterprises. They differentiate by using non-copyrighted business writing for training, smaller and cost-effective models, transparency, and not training on customer data. Writer's clientele includes Intuit, United Healthcare, and Spotify, with substantial revenue growth in recent years.

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