AI Startup Writer Raises Funds at $1.9 Billion Valuation (1)

Writer, a startup aiming to compete with the likes of OpenAI to sell artificial intelligence products to businesses, has raised a new round of financing that nearly quadruples its valuation to $1.9 billion.

The company said Tuesday that it raised $200 million in a Series C funding round led by existing investor Iconiq Growth and new backers Premji Invest and Radical Ventures. Other participants in the deal included Insight Partners and Balderton Capital. Writer has raised a total of $326 million to date.

Writer is one of a growing number of AI startups looking to capitalize on demand for ...