Cohere

Gross margins averaged about 70% in 2025.

Customers run its models in managed clouds or on their own hardware, so it avoids heavy computing costs.

The Series E had its first close in October. Once complete, it would value Cohere at about $25B, up from $7B in September 2025.

The Government of Canada is putting in up to about $1.1B, in the largest private round a Canadian tech company has raised.

Staff were offered a chance to sell shares in October 2025.

The pace. Headcount doubled this year. Aidan says he works directly with the people doing the work, rather than through layers of managers.

London. Aidan has described the London office as tight-knit, where everyone knows what everyone else is working on.

Where. Remote-friendly, with offices in Toronto, London, New York, San Francisco, Paris, Montreal and Seoul, and a coworking allowance elsewhere.

Time off. Six weeks of paid vacation, and six months of fully paid parental leave for either parent.

Ownership. Everyone gets equity, plus $2,000 a year for learning and conferences.