AI21 reaches $1.4 billion valuation with $208m. support from Intel and Comcast

In a significant move for the Israeli AI landscape, AI21, a leading developer of artificial intelligence systems for enterprise applications, has successfully concluded its Series C funding round, raising $208 million. The valuation of the company now stands at a substantial $1.4 billion. This funding round saw the participation of prominent new investors, including Intel Capital and Comcast Ventures, the venture capital arms of Intel Corporation and Comcast Corporation, respectively.

With this injection of capital, AI21’s total funds raised have reached a substantial $336 million, underlining the growing interest and support for the company’s AI-driven solutions in the enterprise sector.

“A multi-disciplinary approach is needed to deliver AI to the end user,” said Anthony Lin, corporate vice president and head of Intel Capital. “The AI21 full-stack offering combines foundation models with successful applications and operation tools that will help enterprises accelerate GenAI adoption to increase productivity and affect their bottom and top line.”

Co-CEO and co-founder of AI21 Ori Goshen expressed gratitude for the support of investors who believe in the company’s deep technological expertise.

“This funding will enable AI21 to increase mindshare that one size doesn’t fit all, as enterprises look for unique partners that understand their specific needs. Mass deployment of AI requires deep understanding of high-performance language models that can deliver better value and impact. Our approach is about designing AI with purpose, making it significantly more efficient than building from scratch, and much more cost effective,” he said.

A21 has been involved in the war effort against Hamas

Beyond its commercial pursuits, AI21 has been actively involved in industry-wide efforts to provide support during the ongoing conflict with Hamas. The company granted licenses for the use of Wordtune to entities involved in communication, such as the IDF Spokesman and the Ministry of Foreign Affairs. Additionally, AI21 donated its Language Modeling Technologists (LLMs) to developers and companies contributing to civil and security efforts.

In a notable humanitarian gesture, AI21’s employees played a role in establishing remember710.com. This website aims to document and upload war testimonies globally, allowing translations and presenting stories in multiple languages for diverse audiences.

Prof. Yoav Shoham, co-founder and co-CEO of AI21, acknowledged the difficulty presented by the conflict. “These are difficult times, but we will prevail,” he said. “We are contributing our unique technology to help the war effort and we have employees in reserves on the front lines and rear. Our nation has gone through many wars and military operations, and the business sector has proven its ability to rise from any crisis each and every time.”

“We do our best to support our employees and their families,” he added. “We are grateful that our team contributes, volunteers, and applies their technological capabilities to defend our country and citizens in these challenging days.”