AI21 Labs raises $155M to accelerate GenAI for enterprises

AI21 Labs, a leader in large language model (LLM) based in Tel Aviv, has secured $155 million in a Series C funding round, raising its valuation to $1.4 billion. The funding will be used to boost the growth of its text-based generative AI services for enterprises. The round saw participation from investors such as Walden Catalyst, Pitango, SCB10X, b2venture, Samsung Next, and Prof. Amnon Shashua, along with Google and Nvidia.

Founded in 2017, AI21 Labs has been a pioneer in bringing generative AI to the masses and is known for its proprietary Jurassic-2 foundation models, which are among the world's largest and most sophisticated LLMs. These models power AI21 Studio, a platform for building custom text-based business applications, and Wordtune, a multilingual reading and writing AI assistant. The company has collaborated with various sectors, including Carrefour, Clarivate, eBay, Guesty, Monday.com, and Ubisoft.

Key takeaways

AI21 Labs, a leader in large language model (LLM) technology, has raised $155 million in Series C funding, bringing its valuation to $1.4 billion.
The funding round included participation from investors such as Walden Catalyst, Pitango, SCB10X, b2venture, Samsung Next, Prof. Amnon Shashua, Google, and Nvidia.
AI21 Labs, founded in 2017, is known for its proprietary Jurassic-2 foundation models, which are among the world's largest and most sophisticated LLMs.
The company has recently collaborated with various sectors, including Carrefour, Clarivate, eBay, Guesty, Monday.com, and Ubisoft, and was named on the first ever CB Insights GenAI 50.

AI21 Labs raises $155M to accelerate GenAI for enterprises

Key takeaways

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