Artificial intelligence startup Cohere has told investors that it’s seeing momentum with enterprise customers, even as rivals like Google
, Anthropic and OpenAI claw for market share.
Cohere hit roughly $240 million in annual recurring revenue last year, surpassing its $200 million target, according to a February investor memo viewed by CNBC. It saw quarter-over-quarter growth of more than 50% throughout 2025, the memo said.
“Our thesis is clearly resonating in the market,” the company wrote. “Our sales pipeline continues to grow as global organizations across regulated sectors choose Cohere as their trusted partner for secure AI adoption at scale.”
Founded in Toronto in 2019, Cohere develops models and builds software tools for businesses. The company is backed by investors including Nvidia
