Writer, an enterprise-focused generative AI platform, has raised $100 million in a Series B funding round led by ICONIQ Growth, with participation from WndrCo, Balderton Capital, Insight Partners, and others, bringing its total funding to $126 million. The company aims to develop industry-specific text-generating AI models and facilitate their integration into enterprise workflows. Writer differentiates itself by using non-copyrighted business writing for model training, offering cost-effective, transparent, and non-customer data-trained models. Notable clients include Intuit, Spotify, and Accenture, with revenue growth of 10x in the past two years.
Writer, a company dedicated to advancing generative AI for enterprise applications, has secured a substantial $100 million in Series B funding. Leading the investment round is ICONIQ Growth, accompanied by notable participants like WndrCo, Balderton Capital, Insight Partners, Aspect Ventures, and existing clients Accenture and Vanguard. This infusion of capital brings Writer’s total funding to $126 million and elevates its post-money valuation to an impressive range of $500 million to $750 million. The primary purpose of this funding round is to propel the development of Writer’s specialized text-generating AI models designed for various industries, as stated by May Habib, the co-founder and CEO of Writer.
While many businesses have begun exploring generative AI, often through internal projects akin to “CompanyX-GPT,” they are increasingly recognizing that more complex applications demand expertise in retrieval augmented generation, data acquisition and refinement, and workflow design, constituting the bulk of the work. Writer distinguishes itself by simplifying these challenges and enabling the hosting of data and large language models (LLMs) in an enterprise virtual private cloud, rendering it feasible for enterprises to implement.
Writer competes in a competitive landscape alongside prominent players like OpenAI and other generative text AI rivals such as Anthropic, AI21 Labs, and Mistral AI. Additionally, it faces competition from enterprise-focused generative platforms like Jasper, Cohere, and Typeface. All these entities offer AI-powered tools for creating documents, ranging from advertisements to email campaign content, blog posts, flyers, and website text.
What sets Writer apart from the competition? Firstly, it claims to have trained its fine-tunable models using non-copyrighted business writing—an essential distinction, especially given the legal ambiguity surrounding copyright status for AI-generated content in the U.S. Furthermore, Writer asserts that its models are more cost-effective due to their smaller size and provides transparency by allowing customers to inspect the models’ code, features, and data. Crucially, Writer emphasizes that its models have never been trained on customer data.
Like many of its competitors, Writer permits customers to integrate its models with business data sources, enhancing their capacity for research, fact-checking, and answering queries. Additionally, Writer empowers companies to enforce regulatory, legal, and brand guidelines throughout its platform’s models.
These distinctive capabilities have attracted “hundreds” of customers, including prominent names like Intuit, United Healthcare, UiPath, Spotify, L’Oréal, Uber, and Accenture. Based in San Francisco and boasting a team of 100 dedicated employees, Writer reports an astonishing revenue growth of 10x in the past two years.
