Funding round
Cohere Series D
Cohere, which works in enterprise AI platform development in Toronto, raised $500M in a Series D round announced on 22 Jul 2024, led by PSP Investments, at a $5.50B post-money valuation. 9 firms took part, 3 of them already investors. It is Cohere's fourth venture round on record; the one before was a Series C in Jun 2023.
$500M
Amount raised
$5.50B
Post-money valuation
$5.00B pre-money
9
Investors
1 lead
2.5x
Step-up from the Series C
$2.20B in Jun 2023
9.1%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Cohere at $5.50B after the new money, 2.5 times the $2.20B of its Series C (Jun 2023). The $500M bought investors about 9.1% of the company. It came 13 months after Cohere's Series C. It is 48% of the $1.03B Cohere has raised in the venture rounds on record. Cohere raised again 14 months later: a Growth round of $100M in Sep 2025, at $7.00B post-money.
Cohere's funding rounds
Cohere has 5 venture rounds on record and 1 other deal. This one is highlighted.
- Series A 7 Sep 2021, led by Index Ventures $40M
- Series B 15 Feb 2022, led by Tiger Global $125M
- Series C 8 Jun 2023, led by Inovia $270M$2.20B post-money
- Series D this round 22 Jul 2024, led by PSP Investments $500M$5.50B post-money
- Grant not a venture round 1 Dec 2024 $171M
- Growth 24 Sep 2025, led by Radical Ventures and Inovia $100M$7.00B post-money
Investors
Who put money in
PSP Investments led the round with 8 other firms. PSP Investments, Nvidia and Salesforce Ventures had backed Cohere before.
Lead investor
- backs 12 venture-backed companies existing investor
Also in the round
- Cisco new investor
- AMD new investor
- Fujitsu new investor
- Export Development Canada new investor
- Nvidia existing investor
- Salesforce Ventures backs 314 venture-backed companies existing investor
- Oracle new investor
- EDC
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
96 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $100M, and this round was 5.0 times the median. The closest in time, other companies' Series D rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 17 Jul 2024 | $100M | $850M | General Catalyst |
| Tech Companies | 16 Jul 2024 | $80M | $1.00B | not named |
| Tech Companies | 16 Jul 2024 | $65M | not disclosed | B Capital |
| Tech Companies | 8 Jul 2024 | $60M | not disclosed | Hitachi Ventures |
| Grafana Labs Tech Companies | 21 Aug 2024 | $270M | $6.00B | Lightspeed Venture Partners |
| Abnormal AI Tech Companies | 6 Aug 2024 | $250M | $5.10B | Wellington Management |
| Tech Companies | 8 Aug 2024 | $225M | not disclosed | WestCap |
| Tech Companies | 18 Jun 2024 | $150M | $1.50B | Kleiner Perkins and Meritech Capital |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Cohere raise in its Series D round?
Cohere raised $500M in its Series D round, announced in Jul 2024.
Who led Cohere's Series D round?
PSP Investments led it, with Cisco, AMD, Fujitsu, Export Development Canada and Nvidia and 3 more.
What was Cohere's valuation at the Series D round?
$5.50B post-money ($5.00B pre-money).
How does it compare with other Series D rounds in Tech Companies?
96 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $100M, and this round was 5.0 times the median.
Did Cohere raise again after this round?
Yes: a Growth round in Sep 2025 of $100M at $7.00B post-money.