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The people who built Canada’s companies · November 2026

Enterprise generative AI / large language models

Cohere

Cohere skipped the consumer chatbot race and sold language models to businesses and governments, including options to run privately.

Aidan Gomez
Aidan Gomez. Photograph: Gabriel Hutchinson, CC BY-SA 4.0, via Wikimedia Commons

At twenty, Aidan Gomez was an intern. His name was on one of the most consequential papers in modern computing.

In 2017 he was at Google Brain, one of eight authors of 'Attention Is All You Need', the paper that introduced the transformer, the architecture underneath today's chatbots. He was the youngest in the room by a distance, and probably the only one who still had undergraduate exams in his recent past.

What almost nobody anticipated was how hard it would be to raise money at home.

He came from small-town Ontario. Born in Toronto, he grew up in Brighton, then returned to study computer science and mathematics at the University of Toronto. He later went to Oxford to work on a PhD. At Toronto he worked with Ivan Zhang at FOR.ai, a research collective, and he knew Nick Frosst, a Google Brain researcher, from the same Toronto circle.

The pull of a startup was strong, and the cost was real. In 2019 the three founded Cohere, and Gomez paused the Oxford doctorate to do it. He finished the degree only in 2024, five years into running a company, something few chief executives can say.

What almost nobody anticipated was how hard it would be to raise money at home. The New York Times reported that Cohere struggled to attract US investors, even as capital poured into rivals. Early backers, though, believed: Index Ventures led a US$40 million Series A in September 2021, and Tiger Global led US$125 million in 2022. By June 2023 the valuation had reached US$2.2 billion, with Oracle, Salesforce and Nvidia on the cap table.

It has not been smooth. In February 2025, 14 publishers, including The Atlantic, Conde Nast and Forbes, sued for copyright infringement over alleged unauthorised use of their content. The company has also been pushed toward a deal with Germany's Aleph Alpha, backed by US$600 million from Schwarz Gruppe, which the Times said would value the combined business near US$20 billion.

Revenue has grown from an annualised US$22 million in March 2024 to a reported US$240 million in February 2026.

The quiet lesson in Gomez's path is that timing can turn a junior into a founder. He did not wait for a title. He simply happened to be in the room, did the work, and then, unusually, built on it himself.

The Chronology year by year

  1. 2017
    • Gomez co-authors the transformer paper as an intern
  2. 2019
    • Cohere founded
  3. 2021
    • Series A
  4. 2023
    • US$2.2B valuation
  5. 2024
    • US$240M Canadian government support for data centre
  6. 2025
    • publishers sue
  7. 2026
    • Aleph Alpha deal

The Money Trail how it was funded

  1. Sept 2021 Series A US$40M (Index Ventures)
  2. Feb 2022 Series B US$125M (Tiger Global)
  3. Jun 2023 Series C US$270M (Inovia, Oracle, Salesforce, Nvidia) at US$2.2B
  4. Jul 2024 US$500M (Cisco, AMD, Fujitsu) at US$5.5B
  5. 2025 US$500M (Radical, Inovia) at US$6.8B
  6. Sept 2025 US$100M at about US$7B
  7. Apr 2026 Schwarz Gruppe US$600M tied to Aleph Alpha deal

Principal backers: Index Ventures, Radical Ventures, Tiger Global, Inovia, Oracle, Salesforce, Nvidia, Cisco, AMD, BDC, Schwarz Gruppe

The Close Calls what nearly broke it

  • Feb 2025 copyright suit by 14 publishers; difficulty attracting US investors (reported by NYT) which pushed the Aleph Alpha tie-up; competition from far better-funded labs

In Their Own Words from the record

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