July 13, 2024
Writer triples revenue and expands to 250 customers as demand for enterprise AI soars

Don’t miss OpenAI, Chevron, Nvidia, Kaiser Permanente, and Capital One leaders only at VentureBeat Transform 2024. Gain essential insights about GenAI and expand your network at this exclusive three day event. Learn More


Writer, the full-stack generative AI platform for enterprises, has tripled its revenue over the past year and expanded its customer base to 250 companies, underscoring the surging demand for generative AI tools in the enterprise. The rapid growth has been fueled by Writer’s ability to deliver tangible business value through its advanced language models and full-stack approach to deploying AI applications.

“Customers meet with us, and from the very first conversation, they understand we have experience getting to value in the vertical that we focus on,” said May Habib, founder and CEO of Writer, in an interview with VentureBeat. “There’s real depth of experience and expertise on which use cases, data sourcing, who should be responsible, what are the workflows, what does the change management look like. Everybody else is selling the picks and shovels, and we’re selling outcomes — it is really differentiated in the market.”

Delivering tangible returns for enterprises adopting generative AI

Writer’s momentum comes as some industry observers have questioned whether generative AI is producing real returns for companies. Habib dismissed that skepticism, asserting that enterprise decision makers simply need to talk to Writer’s customers to see the impact firsthand.

In one case study, a mortgage lender using Writer’s platform achieved a 7X return on investment. The company was able to automate and optimize a range of writing tasks, from marketing copy to legal disclosures, driving major efficiency gains. “We take a unique full-stack approach,” Habib explained. “That’s what helps everybody climb the first mountain of accuracy and quality. Then we pair that with a relentless focus on user adoption and value realization.”


Countdown to VB Transform 2024

Join enterprise leaders in San Francisco from July 9 to 11 for our flagship AI event. Connect with peers, explore the opportunities and challenges of Generative AI, and learn how to integrate AI applications into your industry. Register Now


To support its next phase of growth, Writer has brought on seasoned executives from top tech companies to its C-suite.  Roger Kopfmann joins as Writer’s first Chief Financial Officer from Coupa; Andy Shorkey joins as the company’s first Chief Revenue Officer from OneTrust and Mulesoft; and Diego Lomanto joins as Writer’s first Chief Marketing Officer from UIPath and Ada.

The strategic hires bring experience scaling revenue into the billions of dollars. “We wanted a C-suite that would help us grow a billion dollar ARR company,” said Habib. “And so we needed people who had started at our stage and gotten there in one stretch.”

Prioritizing trust, security and responsible AI practices

Building trust with customers around data privacy and responsible AI practices has been core to Writer’s approach as it expands its footprint in the enterprise. The company focuses on five key pillars: accuracy, security, transparency, legality and ethics.

“Accuracy is actually the cornerstone,” Habib told VentureBeat. “If you don’t have the right output, then your end users will not trust AI.” To boost accuracy, Writer has engineered an AI system around its language models that reduces hallucination, exposes the model’s reasoning process to users, and provides the source data behind outputs.

Flexible deployment options and granular data residency controls aim to give enterprise customers confidence that their information remains secure. Writer advises clients on best practices for transparency, such as disclosing to end users when content has been generated by AI.

Proprietary language models consistently rank among top performers

Writer’s proprietary language models, known as Palmyra, have consistently ranked among the top 3 general purpose models on industry leaderboards measuring performance and accuracy. Habib credits this to an unrelenting focus on the data used to train models for specific enterprise use cases.

But she emphasized that customers are signing up for an innovation agenda, not just a static product, given the breakneck pace of disruption in the generative AI space. “It’s that ability to continue to innovate, continue to invest that I think is really impressing people,” she said.

As enterprises evaluate potential AI vendors, Habib advised them to seek out partners who offer radical transparency and a deep understanding of their business needs. “Generative AI, more than any other platform shift, requires a degree of transparency, trust, and partnership between vendor and customer,” she said. “It’s going to be really hard to find success if you don’t have vendors who are deeply invested in you.”

With its strong growth trajectory, blue-chip customer base, and commitment to responsible AI development, Writer is well-positioned to lead the enterprise generative AI market as more companies look to operationalize the technology and drive meaningful business value.



Source link