AI21 Labs Raises $155M in Series C Funding, Valued at $1.4 Billion, to Boost Generative AI Services for Enterprises.
AI21 Labs specializes in generative AI and Large Language Models, offering AI21 Studio for businesses to build AI-driven applications and services.
Company Name: AI21 Labs
Location: Tel Aviv, Israel
Sector: AI and Large Language Models (LLMs)
Funding Details: Closed a $155m Series C funding at a valuation of $1.4 billion. Investors include Walden Catalyst, Pitango, SCB10X, b2venture, Samsung Next, Prof. Amnon Shashua, with participation from Google and NVIDIA. Total capital raised to date is $283m.
Purpose of Investment: To accelerate the growth of text-based generative AI services for enterprises.
Leadership: Founded by Prof. Amnon Shashua, Prof. Yoav Shoham, and Ori Goshen
Product: AI21 Labs specializes in generative AI and Large Language Models, offering AI21 Studio for businesses to build AI-driven applications and services. They also provide Wordtune, an AI-based reading and writing assistant.
About: Established in 2017, AI21 Labs has emerged as a leader in generative AI and LLMs, focusing on empowering businesses with advanced AI technologies. Their flagship language model, Jurassic-2, enables enterprises to develop sophisticated AI-driven applications.
Key Offerings:
- AI21 Studio: A platform for businesses to create custom generative AI applications using Jurassic-2.
- Wordtune: A consumer product offering AI-based assistance in reading and writing, capable of understanding context and meaning.
Clients: The company boasts a diverse client base including Carrefour, Clarivate, eBay, Guesty, Monday.com, and Ubisoft.
