It’s unclear how much of OpenAI’s and Anthropic’s revenues are due to individual subscriptions vs. enterprise deals, but both are doubling down on the enterprise segment.
- Anthropic announced its enterprise Claude Team plan in May.
- OpenAI also announced fresh exec hires last week as it focuses on growth: former Nextdoor CEO Sarah Friar is joining as Chief Financial Officer and Kevin Weil, with product experience at Facebook and Twitter, as Chief Product Officer.
Cohere, which had $35M in annualized revenue at the end of Q1, has not built a consumer chatbot and is focused on the enterprise market.
While enterprise customers are increasingly promiscuous using models from multiple developers (as we explored on Tuesday here), OpenAI continues to lead in terms of adoption based on CBI software buyer interviews.
Not: Banking-as-a-service (BaaS) headcounts
BaaS startup Unit let go 15% of its staff this week. The company joins others in the market like Treasury Prime and Synctera that restructured this year.
BaaS providers use application programming interfaces (APIs) to enable banks, fintechs, and companies outside of financial services to offer banking and payment products to end users.
Regulatory scrutiny on bank and fintech partnerships has put pressure on the market, and it’s recently seen a wave of consolidation and shutdowns. For example, Synapse filed for bankruptcy in April 2024.
We map the market here and cover consolidation here.
