Writer Inc. Receives $100 Million Investment

A startup specialising in AI-powered content creation and summarisation, Writer Inc. recently raised $100 million in funding. It increased its valuation to over $500 million. The company was founded in 2020. Founded by May Habib and Waseem AlShikh, the company uses Big Language Models (LLMs) trained on extensive online text datasets to advance enterprise content creation. Customers such as L'Oréal, Spotify, Pinterest, Deloitte and Uber already use Writer's services.

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Writer Inc.

Writer aims to help businesses leverage AI for a variety of functions, including drafting product descriptions, creating job lists, creating social media posts, data analytics and task automation. As mentioned above, L'Oréal uses Writer's software to support its digital marketing campaigns. It demonstrates the real-world impact of AI-powered content creation.

Iconiq Growth led the financing round. The round included participation from reputable investors such as WndrCo, Balderton Capital and Insight Partners. Writer's clients Accenture Plc and Vanguard Group Inc. also participated in the investment initiative. The funding will help Writer develop its AI models and keep pace with innovation. The investment from Iconiq Growth brings General Partner Doug Pepper to Writer's board of directors as the seventh member. Pepper spoke of the excitement in the enterprise AI market. He also emphasised the startup's tangible contributions to customer productivity.

Habib stated that Writer is committed to factual accuracy. He also argued that the language AI model "will never create something factually incorrect" thanks to its architecture, which is designed to prioritise accuracy. The author's approach involves training its models on both publicly available information and the company's proprietary data, creating a customised model for each customer. Note for all data. It is stored securely in the client's cloud, ensuring transparency regarding data sources. Writer's strategy to combat the "hallucination" problem, where AI models produce false information, revolves around model architecture. By enabling encoders and decoders to communicate and utilising customer data, the company strives to achieve accuracy and inclusivity in the content created.