Attracting $100 million in investments to the artificial intelligence platform Writer

The generative artificial intelligence (AI) platform, Writer, has reached new heights by attracting an impressive $100 million in funding as part of a Series B financing round. This significant milestone in the company's development was led by ICONIQ Growth and garnered support from major investors, including WndrCo, Balderton Capital, Insight Partners, Aspect Ventures, as well as some of the company's clients, such as Accenture and Vanguard.

Writer is focused on providing a full range of tools and solutions for corporations looking to create AI products. This includes areas such as sales, human resources management, and marketing. However, the most notable news is the company's plans to use the raised funds to develop its own industry-specific large language models with multimodal capabilities. This will enable corporate clients to create more advanced and intelligent applications and solutions based on AI.

Research conducted among 50 corporate clients of Writer revealed impressive results: the average employee using the platform's solutions frees up to 7.5 hours of working time per week. This underscores the significant level of efficiency and automation that Writer provides.

This is not the first round of financing for the Writer company. In 2021, it raised $21 million in a Series A round led by Balderton Capital and Insight Partners, and in 2020, it secured $5 million in venture investments with the participation of Aspect Ventures. It is worth noting that over the past two years, the company has significantly increased its revenue "tenfold," demonstrating its success and prospects in the field of artificial intelligence.

Writer's growth reflects a broader trend in AI development investment, which continues to attract substantial capital and demonstrates significant potential for innovation and automation in the business sphere.