Generative AI startup, Writer, recently secured a remarkable $100 million in a Series B funding round, elevating its valuation to between $500 million and $750 million. Writer’s advanced language models can create a wide range of content, from incident reports to executive summaries, putting it in competition with products like OpenAI’s ChatGPT Enterprise and Typeface.
Writer’s CEO, May Habib, revealed that some enterprise clients have switched from Azure OpenAI to Writer due to the perceived higher quality of content generated by Writer. This shift has contributed to Writer’s extraordinary tenfold revenue increase over the past two years, with a fourfold surge in just one year.
Writer, founded in 2020, made it to Forbes’ AI 50 list this year and serves 150 major enterprises including Uber, Spotify, Vanguard, Samsung, Accenture, and L’Oreal. The funding round was led by Iconiq Growth and saw participation from WndrCo, Balderton Capital, Insight Partners, and Aspect Ventures, bringing Writer’s total funding to $126 million.
Writer offers a diverse set of 14 models, ranging from 128 million to 43 billion parameters. Although smaller in scale than OpenAI’s GPT-4, these models are trained on publicly available data sources, with proprietary content carefully filtered out. Each enterprise receives a customized model tailored to their specific data, ensuring compliance with privacy and security regulations.
Writer’s recent model, PalmyraMed, focuses on healthcare applications and is trained on publicly available medical datasets. Writer’s ability to fine-tune smaller models at a lower cost makes it an attractive choice for specific tasks.
Writer’s integration with popular tools like Salesforce, Adobe, Google Chrome, Figma, Google Docs, Canva, Microsoft Word, and Outlook sets it apart. This integration enhances the work environment by embedding the Writer application through a plugin or extension, offering valuable suggestions.