Writer Inc., a company that assists businesses in writing and summarizing a wide range of content, has secured $100 million in a deal that values the company at over $500 million.

Led by CEO May Habib, Writer is the latest artificial intelligence startup to utilize large language models in a corporate setting.

These large language models are trained on extensive portions of text available online, enabling them to generate text that sounds as if it were created by a human.

This startup allows businesses to harness artificial intelligence for functions such as product descriptions, job advertisements, social media posts, as well as data analysis and task automation.

Its customers include prominent companies like L’Oréal, Spotify Technology, and Uber Technologies Inc.

For instance, L’Oréal uses software from Writer to create digital marketing campaigns.

Writer intends to invest part of this financial injection into enhancing its artificial intelligence models.

With this latest funding, the company has raised a total of $126 million to date.

Source: Reuters.com