As top AI labs like Google, Anthropic, and OpenAI chase enterprise adoption, Canadian AI startup Cohere is quietly cleaning up.
The company told investors in a note that it exceeded its 2025 annual recurring revenue target of $200 million, growing more than 50% quarter-over-quarter for the year to $240 million, according to CNBC.
Cohere was founded in 2019 and is backed by enterprise technology investors including Nvidia, AMD, and Salesforce. The startup’s core technology is its Command family of generative AI models, which Cohere says are efficient enough to deploy on limited GPUs, making them attractive to companies looking to manage costs and resources.
Last summer, Cohere launched North, a higher-level enterprise platform and AI workspace for secure custom AI agents and workflows built on Cohere’s models.
Cohere CEO Aidan Gomez said last October that the company could IPO “soon.” If “soon” means 2026, Cohere could be competing with OpenAI, Anthropic, and SpaceX/xAI, all of which are reportedly considering public debuts of their own.
TechCrunch has reached out to Cohere for comment.
