300 Firms Use AI Startup Writer To Boost Operations

Artificial intelligence (AI) company Writer has drafted thousands of product description blurbs for cosmetics giant L’Oréal, answers to frequently asked questions for Uber, and social media content for Salesforce, Danielle Chemtob reported for Forbes Daily.

Writer’s customers are using its tools to cut costs in a significant way.

Those are just three of the 300 companies that pay—sometimes millions—to use Writer’s customizable AI apps to automate everyday, time-consuming work.

The enthusiastic embrace by enterprise has helped Writer, one of the sizzling startups featured on the Forbes AI 50, raise around $320 million from top venture capitalists. Its November $200 million round valued the company at $1.9 billion.

At a time when many companies are trying to figure out exactly how AI can help grow their business—and whether the investment is worth it—Writer’s customers are using its tools to cut costs in a significant way.

One health product retailer says it is saving $5 million annually in marketing agency costs by using Writer’s AI to advertise products on TikTok, Amazon, and Walmart.

One of its top AI executives expects that number to balloon to $25 million in the next two years. Those kinds of savings have spiked Writer’s net retention rate to a stunning 160%, indicating that customers end up expanding their contracts by 60% on average.

CEO and cofounder May Habib says that 20 customers who started with contracts between $200,000 and $300,000 quickly found new ways to use Writer’s tools—and are now spending about $1 million each.