Last Updated: 12 November 2024
Writer, an innovative generative AI company focused on building powerful AI solutions for businesses, has just raised $200 million in its Series C funding round, co-led by Premji Invest. This investment brings Writer’s valuation to $1.9 billion, with total funding now at $326 million, providing the support to strengthen its lead in enterprise AI.
The $200 million Series C round was co-led by Premji Invest, Radical Ventures, and ICONIQ Growth, with additional backing from Salesforce Ventures, Adobe Ventures, B Capital, Citi Ventures, IBM Ventures, and Workday Ventures. Existing investors like Accenture, Balderton, Insight Partners, and Vanguard also joined, showing strong support for Writer’s vision.
Sandesh Patnam from Premji Invest and Rob Toews from Radical Ventures are joining Writer’s board, bringing added experience and insights to fuel the company’s growth.
The funding will go toward expanding Writer’s AI platform, with a focus on helping industries like healthcare, retail, and financial services streamline complex tasks and workflows. Writer’s platform is designed to make business processes simpler and reduce the burden of repetitive tasks, freeing teams up to focus on higher-value work.
Writer is also building out “AI agents”—autonomous systems that plan and execute workflows across departments. These funds will help strengthen Writer’s customizable AI guardrails and no-code development tools.
“With this new funding, we’re laser focused on delivering the next generation of autonomous AI solutions that are secure, reliable, and adaptable in highly complex, real-world enterprise scenarios.”
CEO and Co-founder May Habib
As more businesses look to AI to boost productivity, demand for reliable solutions like Writer’s is on the rise. Writer’s platform has quickly become a go-to for large enterprises like Mars, Ally Bank, Qualcomm, Salesforce, Uber, Accenture, L’Oreal, and Intuit—all using it to drive efficiency in their operations.
“Writer provides a refined, AI-powered solution that’s effective, easy to deploy, and has rapidly accelerated our workflows here at Salesforce. We’re excited to join them on this journey not only as an investor, but also as a customer.”
Patrick Stokes, EVP of product and industries marketing at Salesforce
The wider generative AI market continues to attract substantial investment. In the first half of 2024, $3.9 billion was invested in generative AI startups, with projections indicating that generative AI could surpass $1 trillion in revenue within the next decade.
Founded in 2020 by May Habib and Waseem AlShikh, Writer creates secure, flexible AI tools tailored to the needs of large businesses. Prior to Writer, Habib and AlShikh co-founded Qordoba, a platform that helped companies localize products for new markets. Headquartered in San Francisco with offices in New York and London, Writer has grown into a trusted, full-stack generative AI provider for corporations around the world.
With board additions Sandesh Patnam and Rob Toews, Writer is well-positioned to keep advancing in the competitive AI space.
Writer’s platform is powered by its proprietary Palmyra models, which launched in 2023 for text generation and can connect directly with clients' data sources. Recently, Writer released the Palmyra X 004 model, built using mostly synthetic data, which kept development costs significantly lower than the industry average. This efficiency allows Writer to provide more affordable, scalable AI solutions.
Writer also offers retrieval-augmented generation (RAG) technology and no-code tools, empowering businesses to customize AI solutions that fit their specific workflows. These tools make it easier for companies to integrate AI into complex processes across different sectors.
Writer has attracted a solid group of investors, including Premji Invest, Radical Ventures, and ICONIQ Growth, as well as Salesforce Ventures, Adobe Ventures, and Citi Ventures. Existing backers such as Accenture, Insight Partners, and Balderton continue to support Writer’s mission, underscoring their confidence in the company’s growth.
This broad investor base highlights the strong belief in Writer’s approach to AI and its ability to help enterprises boost productivity in a competitive market.
