Cohere raises up to CAD 7B in Series E at CAD 35.7B valuation
Cohere closed its Series E funding round on October 29, 2026, raising up to CAD 7 billion and valuing the company at CAD 35.7 billion. The round was led by Schwarz Group, with Bell Ventures, Bullhound Capital, and the Government of Canada joining as new investors. This marks the largest private capital raise in Canadian history, according to Cohere’s announcement. The funding will accelerate…
Key points
- Cohere raised up to CAD 7B in Series E, valuing it at CAD 35.7B, the largest private tech raise in Canadian history
- Schwarz Group led the round, with Bell Ventures, Bullhound Capital, and the Government of Canada as new investors
- Funds will advance sovereign AI models, expand compute infrastructure, and scale globally across regulated sectors
Cohere reported 165% year-over-year growth in annual recurring revenue through Q3 2026, driven by new customers like Aston Martin Aramco, Bell Canada, and TD Bank. The company’s global customer base grew 20-fold in a year to 300. The Government of Canada’s participation underscores its commitment to fostering sovereign AI capabilities domestically. Cohere also highlighted recent acquisitions—Aleph Alpha, Reliant AI, and AISLE—to bolster its platform in healthcare, cybersecurity, and sovereign AI. The funding follows the launch of North 2, an upgrade to its agentic AI platform, and new model releases in generation, search, speech, code, and translation.
Cohere Closes Initial Series E Targeting Up to CAD $7B at CAD $35.7B Valuation
Unite.AI · 29 October 2026
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