Toronto-based Cohere has fully launched its agentic AI platform to attract security-focused enterprises. After beginning with an early access program, the platform, called North, enables users to create custom AI agents to automate tasks like report generation. Cohere co-founder Nick Frosst described North as a tool for automating monotonous computer tasks. Founded in 2019, Cohere is a leading large-language model developer in Canada, targeting enterprise clients with secure and compliant features. Early clients include RBC, which uses North for Banking on-premises, as well as LG CNS, Dell Technologies, and Bell. Cohere prioritizes large-scale operations with stringent security needs, aiming to expand to smaller businesses.
North’s tools include chat, search, and document creation, competing with offerings from companies like Microsoft and OpenAI. It integrates with Google Drive, Slack, and Salesforce, with privacy features for on-premises deployments. Cohere emphasizes demonstrating ROI from AI investments, a challenge highlighted by Cohere’s leadership and echoed by reports from firms like Georgian and Statistics Canada.
Recent studies, including those by McKinsey, show mixed productivity gains from AI tools. Cohere aims to streamline deployment with North, reducing onboarding time and improving customer experiences. Frosst addressed concerns about entry-level job displacement, emphasizing North’s role in augmenting, not replacing, jobs. Cohere generates revenue from North through subscription fees tied to the number of users.
According to sources, Cohere is on track to reach $200 million USD in annualized revenue, nearly tripling its revenue since the start of 2025. The company is also reportedly seeking to raise additional funds. Cohere did not comment on its revenue growth or fundraising efforts.