Cohere announced an initial close of a Series E targeting up to about $5 billion on October 29, with Canada's participation tied to commitments on Canadian jobs and infrastructure. Schwarz Group is leading the round, which also includes Nvidia. The company did not disclose how much the first close raised.
Canada plans to deliver its equity investment in stages and require regular progress reports, the prime minister's office said. Cohere has agreed to keep its incorporation and headquarters in Canada, create at least 1,000 Canadian technical jobs by 2030 and add domestic computing infrastructure.
The Toronto company builds AI models and workplace software for regulated businesses and governments. Its North platform lets employees create agents that use company information and connect to tools such as SharePoint and Slack. Customers can run North on their own infrastructure or in environments disconnected from external networks.