Writer raises $200M Series C at $1.9B valuation to fuel leadership in agentic enterprise AI

Premji Invest, Radical Ventures, and ICONIQ Growth co-lead round with participation from Salesforce Ventures, Adobe Ventures, Citi Ventures, and others, as Fortune 500 companies embrace Writer’s full-stack generative AI solution

November 12, 2024 – San Francisco, CA – Writer, the full-stack generative AI platform for the enterprise, today announced $200M in Series C venture funding at a $1.9 billion valuation. The round was co-led by Premji Invest, Radical Ventures, and existing investor ICONIQ Growth, with participation from investors including Adobe Ventures, B Capital, Citi Ventures, IBM Ventures, Salesforce Ventures, and Workday Ventures. Existing investors Accenture, Balderton, Insight Partners, and Vanguard also supported the round. Sandesh Patnam, Managing Partner at Premji Invest, and Rob Toews, Partner at Radical Ventures, will join Writer’s board of directors. The new capital will help cement the company’s leadership in the enterprise generative AI category and fuel Writer’s development of enterprise-grade agentic AI.

“At Writer, we’re not just creating LLMs that can execute tasks but developing advanced AI systems that deliver mission-critical enterprise work,” said Writer Co-founder and CEO May Habib. “Today, hundreds of the world’s largest companies are using Writer to deploy generative AI applications and agents that solve tough business challenges and produce unprecedented ROI. 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.”

Building on its four-year track record of innovation in large language models (LLMs) and enterprise-grade generative AI architecture, Writer will use the new capital to accelerate its development of AI solutions that can plan and execute complex enterprise workflows across systems and teams. The funding will also support a rapid expansion of quick-start AI applications and agents for the most time-intensive workflows in healthcare, retail, and financial services.

“Premji Invest doesn’t just bet on companies ready for the public stage; we back the trailblazers poised to transform industries and reshape the world for decades to come,” said Sandesh Patnam, Managing Partner at Premji Invest. “That’s why we’re invested in Writer—they’re not just leading enterprise generative AI, they’re pioneering powerful, reliable, and safe AI systems that deliver outstanding results and giving companies the playbook for a human-centric future of AI.”

Rapid Expansion of Fortune 500 Customers

Writer has experienced rapid growth as demand for fully integrated AI platforms has intensified. Global leaders like Mars and Fortune 500 companies including Ally Bank, Franklin Templeton, Kenvue, Lennar, Prudential, Qualcomm, Salesforce, Uber, and more have joined Writer’s growing roster of customers, alongside long-standing customer champions like Vanguard, Accenture, L’Oreal, and Intuit. Customers have saved millions of hours in productivity and see a 9x return on investment on average.

“Writer is a rare gem in the generative AI landscape,” said Rob Toews, Partner with Radical Ventures. “The company’s exceptional growth trajectory is a testament to its unique value proposition: a full-stack generative AI platform that works across multiple business functions. With a world-class leadership team and a rapidly growing customer base of the largest blue-chip companies on the planet, Writer is revolutionizing how enterprises leverage AI. We’re thrilled to partner with May and the entire Writer team as they continue to scale their business and redefine the future of work.”

Doug Pepper, General Partner at ICONIQ Growth, added, “Writer co-founders May Habib and Waseem AlShikh have built the technology and team to power a profound shift in the future of work, and we’re proud to continue to support their journey. We believe, with its full-stack approach, Writer is on the leading edge of enterprise generative AI innovation. We’re truly impressed by their ability to deliver speed to value for their growing base of customers.”

Recently, Writer was recognized by top analysts as a leader in generative AI engineering and knowledge management applications. Writer’s platform includes its top-benchmarked family of Palmyra LLMs alongside state-of-the-art graph-based RAG, customizable AI guardrails, and a suite of no-code and codeful development tools. Earlier this fall, Writer released its newest frontier model, Palmyra X 004, achieving state-of-the-art accuracy and reliability in tool calling – a critical skill for executing complex actions and workflows.

“There’s a tremendous amount of engineering required to transform LLMs into reliable business tools,” said Patrick Stokes, EVP, Product & Industries Marketing at Salesforce. “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.”

Arvind Purushotham, Head of Citi Ventures, added, “Writer’s full-stack generative AI platform, powered by proprietary LLMs for financial services, is well-suited to the requirements of global financial institutions, which require AI products to be accurate, highly secure, private, compliant, and ethical. As one of the leading AI investors in financial services, we’re excited to invest in a company that has become a category leader in a very short period of time.”

Learn more about Writer’s vision for enterprise AI at writer.com. Join Writer on its path to empower people and transform work at writer.com/careers.

About Writer

Writer is the full-stack generative AI platform delivering transformative ROI for the world’s leading enterprises. Its fully integrated solution makes it easy to deploy secure and reliable AI applications and agents that solve mission-critical business challenges. Writer’s suite of development tools is supported by Palmyra – Writer’s state-of-the-art family of LLMs – alongside its industry-leading graph-based RAG and customizable AI guardrails. Hundreds of customers like Accenture, Intuit, L’Oreal, Salesforce, Uber, and Vanguard trust Writer to transform the way they work. Founded in 2020 with offices in San Francisco, New York City, and London, Writer is backed by world-leading investors, including Premji Invest, Radical Ventures, ICONIQ Growth, Insight Partners, Balderton, B Capital, Adobe Ventures, Citi Ventures, IBM Ventures, Salesforce Ventures, and others. Learn more at writer.com.

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