Buzzy Software Company Applied Intuition Raises $600 Million in Series F Round
Applied Intuition, a leading autonomous vehicle software company, has recently closed a significant $600 million Series F and tender offer, boosting its valuation to an impressive $15 billion. The funding round was co-led by BlackRock-managed funds and Kleiner Perkins, with additional investments from the Qatar Investment Authority, Abu Dhabi Investment Council, Greycroft, and other notable investors. Existing backers General Catalyst, Lux, Elad Gil, and Mary Meeker’s growth fund Bond also participated in this round.
This latest fundraising effort comes just a year after Applied Intuition secured a $250 million Series E, elevating the company’s valuation to $6 billion at that time. Applied Intuition specializes in developing software solutions for autonomous vehicles, offering simulation software and data management tools to assist companies and government agencies in advancing their autonomous vehicle projects.
CEO Qasar Younis expressed the company’s ambition to be the go-to partner for organizations facing software and AI challenges, emphasizing Applied Intuition’s commitment to providing top-tier solutions in this rapidly evolving industry.
Applied Intuition has established partnerships with major automakers and autonomous vehicle companies like Gatik and Kodiak, solidifying its position as a key player in the autonomous vehicle technology sector. In addition to its work in the commercial space, the company has also made significant strides in the defense industry.
In a recent newsletter, Applied Intuition revealed its collaboration with the U.S. Army to implement autonomous technology in military vehicles. The company successfully transformed an infantry squad vehicle into an autonomous vehicle within a remarkable 10-day timeframe, showcasing its innovative approach to solving complex challenges. This involved the development of a specialized robot capable of operating the vehicle’s controls autonomously.
Correction: This article has been updated to reflect Applied Intuition’s successful completion of a $600 million Series F round and tender offer.
