In a bid to solidify its position in the AI realm, Writer, a trailblazing player in the generative AI platform development industry, confirmed a $100M capital injection during its Series B funding round. The round was steered by ICONIQ Growth, and saw significant contributions from other funding stalwarts such as WndrCo, Balderton Capital, Insight Partners, Aspect Ventures, as well as by some of its active users, such as Accenture and Vanguard.
The fresh capital will accelerate the growth and development of Writer's highly specialized AI-powered text generators. As a result, the firm's overall funds have surged to a substantial $126M, catapulting its enterprise valuation to an impressive range of $500M - $750M post-money.
According to co-founder and CEO, May Habib, enterprises are only beginning to explore the full potentials of generative AI. In her statements to TechCrunch, she explained that the most critical and impactful applications demand a profound understanding of data enrichment, retrieval augmented generation, and workflow construction - these constitute 90% of the work.
Writer's platform ensures that these operations are far more manageable, hosting all of the data - including the large language model (LLM) - in an enterprise virtual private cloud, thereby making it user-friendly for enterprises.
Undeniably, Writer operates in a highly competitive industry which includes renowned AI behemoths like OpenAI, Anthropic, AI21 Labs, Mistral AI, and Jasper, among others. Even in this crowded sector, Writer has managed to carve a niche by developing models that are more cost-effective and smaller than the industry average.
Seamlessly catering to the contemporary needs, the platform's models also boast of transparency and offer a detailed inspection of the model's features, code, and data. Unlike other competitors, Writer's training strictly excludes customer data. The tool is a potent fit for various documents including blog posts, ads, flyers, email campaign copies, and websites, akin to offerings from other platforms like Cohere, Typeface, and AppMaster.io, which provide similar capabilities in no-code development.
Adding more strength to its platform, Writer also allows enterprises to regulate brand rules, legal, and regulatory requirements across its models. The models can also be linked with business data sources, thereby augmenting their ability for research, fact-checking, and answering queries.
With its headquarters in San Francisco and bolstered by an ever-growing workforce of 100 employees, Writer has gained hundreds of customers, namely Intuit, United Healthcare, UiPath, Spotify, L’Oreal, Uber and Accenture. Over the last two years, Writer has seen a remarkable 10x growth in its revenues.