Subj : Generative AI startup Writer secures $100m in funding for new AI
To   : All
From : TechnologyDaily
Date : Tue Sep 19 2023 16:00:03

Generative AI startup Writer secures $100m in funding for new AI

Date:
Tue, 19 Sep 2023 14:42:38 +0000

Description:
Writer has caught the eye of investors, and has a range of features to cut 
through the competition.

FULL STORY
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Writer, an enterprise-focused generative AI writer startup, has added an 
additional $100 million to its funding bringing the companys value to $500 
million. 

This funding will be used to further enhance Writers industry-specific LLMs, 
which it hopes will provide the platform with an edge against its rivals. 
Writer is facing off against industry leaders such as OpenAI, alongside other 
enterprise-focused platforms such as Jasper, Cohere and Typeface. 

The additional funds were raised in the Series B round which concluded 
yesterday (18th), led by Iconiq Growth with participation from other 
investors such as WndrCo, Balderton Capital, Insight Capital - and Writer 
patrons Accenture and Vanguard. How can Writer hope to come out on top? 

Firstly, the most tuneable of Writers models are not trained on copyrighted 
material- a particular sticking point for many businesses looking to increase 
their workflows using generative AI. When combined with Writers built in 
compliance regulation and branding customisation it is possible for users to 
generate content reflective of their own individual style, knowledge and 
demographic. 

Secondly, Writer has developed its own industry-specific LLMs setting it 
ahead of other generative AI providers who are often faulted for black-boxing 
a single model. Writer uses individual models for specific industries, 
capable of recognising specific terminology and writing articles in 
professional, conversational or engaging tones. 

Finally, Writers built in fact-checking tools allows customers to view all 
the sources used in a generated article providing better understanding of the 
information and sources used. This is particularly attractive to freelancers 
and startups as it provides an additional level of oversight which in the 
past may have been reserved for a dedicated department. 

Our foundation models are best-in-class, and they're auditable, inspectable, 
and hostable  but its not just about the models, said May Habib, CEO and 
co-founder of Writer. 

Any CIO who's tried to build an internal generative AI application will tell 
you that the last mile of quality is the hardest. And we help them nail that, 
at scale, dozens and dozens of times as they build AI applications and 
assistants that enable their entire organization. And our customers desire to 
invest in the company is a true testament to the value we're providing. More 
from TechRadar Pro Also check out our list of the best AI tools around Barely 
any companies say they're actually ready for AI technology Microsoft Edge may 
introduce a new AI-generated writing feature - and that makes me nervous



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Link to news story:
https://www.techradar.com/pro/generative-ai-startup-writer-secures-dollar100m-
in-funding-for-new-ai


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