AI21

AI21 Labs is a company developing AI language models for reading and writing use cases. AI21 Labs' products include the following:

• Wordtune—a writing companion tool that helps users rephrase their writing to express themselves better
• Wordtune Read—an AI reader capable of summarizing documentation
• AI21 Studio—a platform offering developers and businesses natural language processing (NLP) solutions powered by AI21 Labs' language models

The company's Wordtune products are available as a free version and a paid premium version with additional capabilities. AI21 also offers direct access to its AI21 Studio models through a free trial with subsequent pricing based on usage measured via tokens (using AI21 models, an average token corresponds to roughly one word or six characters of English text). AI21's Jurassic Foundation models are trained on a massive corpus of text to provide a range of NLP applications. The company offers three tiers of Jurassic models (Ultra, Mid, and Light), each priced based on the quality of output. Users can also fine-tune these models with each tier priced per MB of data and epoch. AI21 Studio also offers task-specific models providing out-of-the-box reading and writing capabilities for developers building AI-powered applications. Task-specific models include paraphrasing, summarizing, grammatical error corrections, text improvements, and text segmentation, with each model priced depending on the number of API calls.

Headquartered in Tel Aviv, Israel, AI21 Labs was founded in 2017 by veterans of the AI field, which include Prof. Yoav Shoham (Professor Emeritus at Stanford), Ori Goshen (Founder of CrowdX), and Prof. Amnon Shashua (Founder, Mobileye). The company came out of stealth mode in October 2020, releasing Wordtune as its first product. In November 2020, the company announced it had raised $34.5 million in total equity capital. The funding included a seed round of $9.5 million in January 2019 and a Series A round of $25 million led by Pitango First with participation from TPY Captial. In November 2021, AI21 Labs raised $20 million from Walden Catalyst. The funding valued the company at $400 million. On July 12, 2022, AI21 Labs announced a $64 million Series B round led by Ahren Innovation Capital Fund with participation from Mobileye CEO and cofounder Amnon Shashua, Walden Catalyst, Pitango, TPY Capital, and Mark Leslie. The funding round values the company at $664 million.