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AI Startup Writer Nabs A $1.9 Billion Valuation To Become A Super App For Enterprises

5 0
12.11.2024

Writer CEO and cofounder May Habib (left) and CTO and cofounder Waseem Alshikh (right) have raised $200 million in a new funding round.

Enterprise AI startup Writer has outgrown its name. Its large language models that were initially popular for helping companies swiftly create blogs, summaries and product descriptions are now being put to work across departments for a broad spectrum of tasks like building applications, analyzing documents and ensuring companies stay compliant. But CEO May Habib doesn’t mind that her company does more than its name suggests.

“What we say now is that if you can write it, if you can describe it, you can build it,” Habib told Forbes.

Writer announced Tuesday that it has raised $200 million in a Series C funding round co-led by AI-focused venture capital firm Radical Ventures, Iconiq Capital and Premji Invest, a private equity firm owned by billionaire Azim Premji. Founded in 2020, the company is now valued at $1.9 billion with about $320 million in total funding. It expects to record about $50 million in annual recurring revenue by the end of this year from more than 300 customers.

Writer is a full-stack AI platform built on........

© Forbes


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