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Cohere Targets CAD $7 Billion Series E at CAD $35.7 Billion Valuation
Oct 29, 2026
Cohere has completed the initial close of a Series E round targeting up to CAD $7 billion at a CAD $35.7 billion valuation.
Cohere completed the initial close of a Series E funding round targeting up to CAD $7 billion at a CAD $35.7 billion valuation, the company announced in a press release. Schwarz Group is leading the round, with commitments from Bell Ventures, Bullhound Capital, the Government of Canada, Inovia Capital, NVIDIA and Prosperity7 Ventures.
Cohere plans to spend the capital on computing infrastructure, AI models and products for businesses and governments. It will also develop products for regulated industries and expand across North America, Europe, the Middle East, Africa and the Asia Pacific region.
The company said annual recurring revenue grew 165% year over year in the third quarter of 2026. Its customer base increased to 300, up twentyfold over the previous year.
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