AI startup Writer has successfully raised an additional $100 million in its Series B funding round, increasing the company’s total valuation to $500 million. These new funds will be dedicated to the further development of Writer’s industry-specific Language Models (LLMs), aiming to give the platform a competitive edge in the rapidly evolving AI landscape. Writer faces formidable competition from industry leaders like OpenAI and other enterprise-focused AI platforms, including Jasper, Cohere, and Typeface.
The recent Series B funding round, concluded on September 18th, was led by Iconiq Growth and attracted participation from various investors, including WndrCo, Balderton Capital, Insight Capital, and established Writer supporters Accenture and Vanguard.
Writer’s distinctive offerings set it apart from its competitors. Firstly, Writer’s highly customizable models are not trained on copyrighted material, a crucial factor for businesses seeking to leverage generative AI for enhanced workflow. This approach, combined with Writer’s built-in compliance regulations and branding customization features, empowers users to generate content that aligns with their unique style, expertise, and target audience.
Secondly, Writer has developed industry-specific LLMs, distinguishing it from other generative AI providers that often rely on a single model with a “black-box” approach. Writer employs dedicated models for specific industries, equipped to recognize industry-specific terminology and capable of generating content in professional, conversational, or engaging tones.
Additionally, Writer incorporates built-in fact-checking tools, allowing customers to access all the sources used in a generated article. This transparency provides users, including freelancers and startups, with an additional layer of oversight, traditionally reserved for dedicated departments.
May Habib, CEO, and co-founder of Writer, emphasized, “Our foundation models are best-in-class, auditable, inspectable, and hostable. But it’s not just about the models. Any CIO who’s tried to build an internal generative AI application will tell you that the last mile of quality is the hardest. We help them excel in that aspect, delivering quality at scale as they develop AI applications and assistants that empower their entire organization. The commitment of our customers to invest in the company underscores the value we provide.”
In conclusion, the recent infusion of $100 million in Series B funding bolsters Writer’s position in the AI arena, enabling it to further refine its industry-specific LLMs and compete effectively against established AI leaders.
