AI21 Labs Raised $155M in Series C Funding and Valued at $1.4 Billion!
AI21 Labs specializes in generative AI and Large Language Models (LLMs), providing both consumer applications and enterprise solutions.
Company Name: AI21 Labs
Location: Tel Aviv, Israel
Nature of Business: AI and Large Language Models (LLMs) for Enterprise and Consumer Solutions
Funding Raised: $155M in Series C, reaching a total capital of $283M to date.
Valuation: $1.4 billion
Lead Investors:
- Walden Catalyst
- Pitango
- SCB10X
Other Investors:
- b2venture
- Samsung Next
- Prof. Amnon Shashua
- NVIDIA
Purpose for Funds: Speed up the expansion of its generative AI services tailored for enterprises.
Background:
Nature of Product/Service: AI21 Labs specializes in generative AI and Large Language Models (LLMs), providing both consumer applications and enterprise solutions. Their developer platform, AI21 Studio, empowers businesses to design AI-driven applications leveraging their advanced language model, Jurassic-2. Moreover, their consumer offering, Wordtune, is an AI-driven reading and writing tool that comprehends context, helping users enhance, generate, or swiftly summarize text.
Company Leadership:
- Prof. Amnon Shasuha
- Prof. Yoav Shoham
- Ori Goshen
Company Overview: Since its inception in 2017, AI21 Labs has become a frontrunner in the realm of generative AI and LLMs. Their services, both for consumers and businesses, have been adopted by several renowned clients, such as Carrefour, Clarivate, eBay, Guesty, Monday.com, and Ubisoft, attesting to their industry prowess and innovative approach.