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The Late Stage 50 · 2026 edition · #43 of 50

Cohere

Cohere builds foundational models and AI solutions that help teams turn everyday effort into extraordinary impact.

Access late stageBack to the list
US$240mARR · 2025
—growth not disclosed
#43rank by disclosed revenue

The figure

Revenue
$240 million
ARR · 20251TechCrunch · 14 Feb 2026
In US dollars
US$240m
as stated
Standing
reported
Named press, described source — TechCrunch, citing CNBC's report of a Cohere investor memo; the figure is attributed in the article
Published
14 Feb 2026
accessed 17 Oct 2026
Evidence
“surpassed its $200 million annual recurring revenue target in 2025, hitting $240 million” — as read on the source page1TechCrunch · 14 Feb 2026
Growth
—
no comparable year-on-year figure: rates over periods shorter than a year, or built on floors or approximations, are not shown

Context

Founded
2019
2cohere.com
Headquarters
Toronto, Canada
2cohere.com
Sector
AI models & infrastructure
Enterprise generative AI (foundation models, North and Compass platforms)
Website
cohere.com
Valuation
US$6.8bn
funding round (Aug 2025, $500M) · Aug 2025 · as reported, not part of the ranking3Cohere
Status
Private as of 17 October 2026
Definitive business combination agreement with Aleph Alpha signed 16 Sep 2026, 'subject to final regulatory approvals' and 'expected to close later this year', per Cohere. Not closed as of 17 Oct 2026.4status check · 17 Oct 2026

Market context

Last round · Forge
Last known valuation $7B (9/24/2025)
5Forge Global · 26 Sept 2026
Clarity Price
$307.33 per share
6M return +71.29%6Clarity (formerly Hiive)
Last round · Clarity
Series D-X (September 2025): $7B post-money, $100M raised
6Clarity (formerly Hiive)

Secondary-market indications are published by Forge Global and Clarity (formerly Hiive) on the dates shown; ratings and margins marked “estimate” are a third party's estimates as reported by the named outlet. None is an offer, and none is part of the ranking.

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References

Every figure on this page, by source.

  1. 1TechCrunch · 14 Feb 2026finance.yahoo.com/news/cohere-240m-sets-stage-ipo-150310781.html
  2. 2cohere.comcohere.com/about
  3. 3Coherecohere.com/blog/august-2025-funding-round
  4. 4status check · 17 Oct 2026cohere.com/blog/cohere-and-aleph-alpha-sign-agreement
  5. 5Forge Global · 26 Sept 2026forgeglobal.com/cohere_stock/
  6. 6Clarity (formerly Hiive)www.clarity.com/browse-companies/cohere-stock

Every link was opened on 17 October 2026 and the figure read on the page. Secondary-market indications, where shown, are provided by Forge Global and Clarity (formerly Hiive), are not offers, and play no part in the ranking.