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Cohere

Cohere is a Toronto company that builds large language models for businesses, offered through an API. Founded in 2019 by Aidan Gomez, Ivan Zhang and Nick Frosst, it reported US$240M ARR for 2025 and announced a pending combination with Germany's Aleph Alpha in April 2026 that would value it at about US$20B.

US$40MSeries A round announced on stage (Oct 2021)TechTO stage 2021-10-29 ↗
US$240Mannual recurring revenue reported for 2025TechCrunch, 2026-04-25 ↗
~US$20Bvaluation of the combined company under the Aleph Alpha deal announced 2026-04-24 — pending regulatory and shareholder approval, not closedTechCrunch, 2026-04-25 ↗
~€500M (~US$600M)structured financing from Schwarz Group, lead investor in Cohere's Series E, announced with the Aleph Alpha dealTechCrunch, 2026-04-25 ↗
US$6.8BCohere's valuation before the Aleph Alpha dealTechCrunch, 2026-04-25 ↗

The people

Ivan ZhangCo-founder, Cohere · 1 TechTO talk
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Aidan GomezCo-founderprofile coming
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Nick FrosstCo-founderprofile coming

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Working at Cohere

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About

Cohere was founded in Toronto in 2019 by Aidan Gomez, Ivan Zhang and Nick Frosst to provide natural-language models to developers and enterprises through an API. When Zhang spoke at TechTO in October 2021, the company had just raised a US$40M Series A led by Index Ventures and Section 32, with early backing from Radical Ventures, and was about to open its platform.

Cohere has moved a long way from that Series A. It reported US$240M in annual recurring revenue for 2025, and in April 2026 announced it would combine with the German AI company Aleph Alpha — a transatlantic entity valued at roughly US$20B, with Schwarz Group, the retailer behind Lidl, putting up about €500M (~US$600M) in structured financing as lead investor in Cohere's Series E. Cohere shareholders would hold about 90% of the combined company. As of this review the deal had been announced but not closed: it is subject to regulatory and shareholder approval.

Backers

Radical Ventures (seed); Index Ventures and Section 32 led the Series A.

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Quick answers

What is Cohere?

A Toronto company that builds large language models for businesses, offered through an API.

Who founded Cohere?

Aidan Gomez, Ivan Zhang and Nick Frosst, in 2019.

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Maintained by TechTO · facts sourced and dated · last reviewed Sep 7, 2026