Applied Intuition Raises $175M Series D Co-Led by Elad Gil, Addition, and Coatue Management at $3.6B Valuation
Nov 11, 2021, 12:00 ET
MOUNTAIN VIEW, Calif., Nov. 11, 2021 /PRNewswire/ -- Applied Intuition, Inc. has raised a $175 million Series D financing round co-led by Elad Gil, Addition, and Coatue Management at a $3.6 billion valuation. Existing investors, including Semil Shah, Andreessen Horowitz, General Catalyst, and Lux Capital, contributed significantly to the round, bringing Applied Intuition's total capital raised to over $350 million. The company also announced an advisory board consisting of former automotive executives Rick Wagoner and Dieter Zetsche.
"Applied is building software to support a big shift in one of biggest consumer purchases—the car," said Elad Gil, a serial entrepreneur, early investor, and Series D lead. "Applied's software is growing to take on multiple aspects of the automotive industry. I'm excited by the work the team has been doing to accelerate the commercialization of autonomous vehicles."
The funding round follows a year of significant growth for Applied Intuition, which works with the majority of the world's top ten largest automakers. The company's growth was fueled by an expansion into more areas of autonomous vehicle (AV) development and additional verticals beyond the automotive industry, such as logistics, warehousing, and defense.
To develop safe, reliable autonomous systems, AV companies need to test against a near-infinite amount of possible events, manage enormous volumes of data, and demonstrate their system's safety to regulatory bodies. Since 2017, Applied Intuition's simulation products, such as Simian, Spectral, and Orbis, have enabled AV companies to test their systems safely, affordably, and at scale in virtual environments. The company's expanded product offerings, including Strada, Logstream, and Basis, help engineering teams effectively train AV algorithms with real-world drive data, meet regulatory requirements, and prepare for commercial deployment.
The additional capital allows Applied Intuition to serve the increased demand for its software tools for autonomous system development and accelerate its product development to support additional use cases across industries.
Automotive Advisory Board
Applied Intuition announced the formation of its advisory board that includes two former executives of global automotive companies:
- Rick Wagoner (Former CEO and Chair of General Motors). Mr. Wagoner has over three decades of experience in senior operational and executive roles at General Motors. He served as CEO from June 2000 through March 2009.
- Dieter Zetsche (Former Chairman of the Board of Management of Daimler AG and former Head of Mercedes-Benz). Dr. Zetsche joined the Board of Management of Daimler AG in December 1995 and then held various areas of responsibility through May 2019, including responsibilities over Mercedes-Benz, DaimlerChrysler AG, and Daimler AG.
The board will provide strategic guidance as Applied Intuition continues building deep supplier relationships with automakers.
To learn more, visit https://applied.co/series-d.
About Applied Intuition
As the foremost enabler of autonomous vehicle development, Applied Intuition equips engineering and product development teams with software that makes it faster, safer, and easier to bring autonomy to market. Applied's suite of products, focused on simulation, validation, and drive data management, delivers sophisticated infrastructure built for scale. Headquartered in Silicon Valley with offices in Detroit, Los Angeles, Munich, Tokyo, and Seoul, Applied's team consists of autonomy, software, and automotive experts from around the world. Learn more at https://applied.co.
SOURCE Applied Intuition
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