Cohere’s $240M year sets stage for IPO

In Brief Posted: 7:03 AM PST · February 13, 2026 Image Credits:Pavlo Gonchar/SOPA Images/LightRocket / Getty Images Rebecca Bellan Cohere’s $240M year sets stage for IPO As the top AI labs like Google, Anthropic, and OpenAI chase enterprise adoption, Canadian AI startup Cohere has been quietly cleaning up. The startup told investors in a memo that it surpassed its $200 million annual recurring revenue target in 2025, hitting $240 million with quarter-over-quarter growth of more than 50% throughout the year, per CNBC. Cohere was founded in 2019 and has the backing of enterprise tech investors like Nvidia, AMD, and Salesforce. The startup’s core tech is its Command family of generative AI models, which Cohere says are efficient enough to be deployed on limited GPUs — an attractive promise for enterprises looking to get a handle on cost and resource management. Last summer, Cohere launched North, a higher-level enterprise platform and AI workspace for secure, custom AI agents and workflows built on Cohere’s models. Cohere’s CEO Aidan Gomez said last October that the startup may IPO “soon.” If “soon” means in 2026, Cohere may be contending against OpenAI, Anthropic, and SpaceX/xAI, which are all reportedly weighing their own public debuts. TechCrunch has reached out to Cohere for comment. Topics AI, Cohere, Enterprise, Enterprise AI October 13-15 San Francisco, CA Tickets are live at the lowest rates of the year. Save up to $680 on your pass now.Meet investors. Discover your next portfolio company. Hear from 250+ tech leaders, dive into 200+ sessions, and explore 300+ startups building what’s next. Don’t miss these one-time savings. REGISTER NOW Newsletters See More Subscribe for the industry’s biggest tech news TechCrunch Daily News Every weekday and Sunday, you can get the best of TechCrunch’s coverage. TechCrunch Mobility TechCrunch Mobility is your destination for transportation news and insight.

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