(Bloomberg) — Cohere Inc. Chief Executive Officer Aidan Gomez said the artificial intelligence startup has “more than doubled” its revenue since the start of this year and is approaching profitability, even as it faces heightened competition for business customers from OpenAI and Anthropic.
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“We are seeing a total takeoff on the enterprise side of the business,” Gomez told Bloomberg Television in an interview Tuesday. “We are seeing these enterprise deployments hit the hands of every employee in the organization.”
Reuters previously reported Cohere was on pace for $100 million in annualized revenue, as of May.
The growth in Cohere’s enterprise business is also putting the startup on a path for profitability in the near term, Gomez said. “We’re very, very close to crossing that line and becoming profitable. We’re not far away.”
Gomez said the startup expects to “continue to fundraise and grow” as it approaches an initial public offering, but he declined to provide an update on any ongoing funding discussions.
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