Cohere revenue and valuation
Specter estimates Cohere's annual revenue at $290M to $740M and its valuation at $22B to $31.7B. The company last reported $240M ARR in December 2025 and was priced at $25.5B in October 2026.
- Estimated revenue
- $290M–$740M
- Estimated valuation
- $22B–$31.7B
- Reported ARR
- $240M
- Total funding
- $9.31B
- Founded
- 2019
- Headquarters
- Toronto, Canada
- Employees
- 1,271
Cohere revenue
Cohere last reported $240M ARR in December 2025. Specter's model puts current ARR between $290M and $740M, anchored to two reported figures.
Monthly data
| Month | Specter estimate | Low | High | Reported ARR |
|---|---|---|---|---|
| $460M | $290M | $740M | ||
| $360M | $210M | $630M | ||
| $340M | $191M | $590M | ||
| $360M | $196M | $660M | ||
| $290M | $181M | $460M | ||
| $280M | $186M | $420M | ||
| $260M | $185M | $380M | ||
| $189M | $150M | $240M | ||
| $184M | $147M | $230M | ||
| $188M | $155M | $230M | ||
| $190M | $158M | $230M | $240M | |
| $173M | $137M | $220M | ||
| $158M | $117M | $210M | ||
| $144M | $109M | $190M | ||
| $132M | $105M | $165M | ||
| $120M | $97M | $148M | ||
| $110M | $90M | $134M | ||
| $100M | $83M | $120M | ||
| $100M | $81M | $123M | ||
| $100M | $81M | $124M | ||
| $100M | $79M | $127M | ||
| $100M | $77M | $130M | ||
| $100M | $76M | $132M | ||
| $100M | $75M | $133M | ||
| $100M | $78M | $128M | ||
| $100M | $71M | $141M | ||
| $100M | $57M | $175M | ||
| $100M | $64M | $156M | ||
| $100M | $62M | $163M |
| Date | Reported ARR | Source |
|---|---|---|
| $240M | ||
| $150M |
Cohere valuation
Cohere's valuation rose from $2.2B at its Series C in May 2023 to $25.5B at its Series E in October 2026. Specter's live estimate sits between $22B and $31.7B.
Monthly data
| Month | Specter estimate | Low | High | Reported valuation |
|---|---|---|---|---|
| $26.4B | $22B | $31.7B | $25.5B (round) | |
| $20B | $16.6B | $24.1B | $20B (press) | |
| $20B | $17.5B | $22.9B | ||
| $20B | $16.7B | $24B | ||
| $20B | $17B | $23.5B | ||
| $20B | $16.8B | $23.8B | ||
| $20B | $16.6B | $24.1B | $20B (press) | |
| $17.2B | $13.2B | $22.5B | ||
| $14.8B | $11.7B | $18.7B | ||
| $12.8B | $9.99B | $16.3B | ||
| $11B | $8.87B | $13.6B | ||
| $9.45B | $7.73B | $11.5B | ||
| $8.13B | $6.73B | $9.83B | ||
| $7B | $5.82B | $8.42B | $7B (round) | |
| $6.8B | $5.66B | $8.18B | $6.8B (round) | |
| $6.34B | $4.9B | $8.2B | ||
| $5.9B | $4.78B | $7.28B | ||
| $5.5B | $4.57B | $6.61B | $5.5B (press) | |
| $5.5B | $3.62B | $8.37B | ||
| $5.5B | $3.68B | $8.23B | ||
| $5.5B | $3.87B | $7.81B | ||
| $5.5B | $4.06B | $7.44B | ||
| $5.5B | $4.23B | $7.15B | ||
| $5.5B | $4.11B | $7.36B | ||
| $5.5B | $4.18B | $7.24B | ||
| $5.5B | $4.36B | $6.94B | ||
| $5.5B | $4.47B | $6.77B | ||
| $5.5B | $4.57B | $6.61B | $5.5B (round) | |
| $5.63B | $4.04B | $7.85B |
Cohere funding rounds
| Date | Round | Raised | Post-money valuation | Lead investors |
|---|---|---|---|---|
| Series E | $5.1B | $25.5B | Schwarz Group | |
| Venture round | Undisclosed | Undisclosed | Undisclosed | |
| Series E | $2.5B | Undisclosed | Schwarz Group | |
| Series D | $100M | $7B | Business Development Bank of Canada, Nexxus Capital Management | |
| Series D | $500M | $6.8B | Inovia Capital, Radical Ventures | |
| Secondary | Undisclosed | Undisclosed | Undisclosed | |
| Grant | $170M | Undisclosed | Government of Canada | |
| Venture round | $1.2M | Undisclosed | Undisclosed | |
| Series D | $500M | $5.5B | Alumni Ventures, PSP Investments | |
| Secondary | $8M | Undisclosed | Undisclosed | |
| Corporate round | Undisclosed | Undisclosed | Undisclosed | |
| Series C | $270M | $2.2B | Alumni Ventures, Inovia Capital | |
| Series B | $125M | Undisclosed | Tiger Global Management | |
| Series A | $40M | Undisclosed | Index Ventures |
Cohere competitors
Enterprise AI splits between general-purpose model providers and vendors prioritizing data-sovereign private deployment.
| Company | Revenue | Valuation |
|---|---|---|
| $290M–$740M | $22B–$31.7B | |
| $320M–$630M | $19.4B–$28.1B | |
| $34.4B–$51.8B | $1.04T–$1.5T | |
| $38.9B–$56.3B | $1.66T–$2.4T | |
| $29M–$78M | $440M–$2.06B |
Cohere revenue and valuation FAQ
What is Cohere's revenue?
Specter estimates Cohere's annual recurring revenue at $290M to $740M as of October 2026. Cohere last reported $240M ARR in December 2025.
What is Cohere's valuation?
Cohere's latest post-money valuation is $25.5B, from an October 2026 Series E. Specter's live estimate is $22B to $31.7B.
What is Cohere's revenue multiple?
Cohere is valued at about 106× ARR, based on its $25.5B October 2026 valuation and $240M last reported ARR. That works out to roughly $189K of ARR per employee.
How much funding has Cohere raised?
$9.31B across 14 rounds, from a $40M Series A in September 2021 to a $5.1B Series E in October 2026.
Who invested in Cohere?
48 investors, including Business Development Bank of Canada, Government of Canada, Inovia Capital, Nexxus Capital Management, Radical Ventures and Schwarz Group.
Who are Cohere's competitors?
Mistral AI, OpenAI, Anthropic and AI21. Specter ranks 30 competitors for Cohere.