Mountain View, California – Applied Intuition, a leading vehicle software supplier, has successfully closed a $250 million Series E financing round, elevating its valuation to an impressive $6 billion. The funding round was spearheaded by Bilal Zuberi at Lux Capital, alongside prominent investor Elad Gil and strategic partner Porsche Investments Management S.A. This significant investment underscores the company's pivotal role in advancing vehicle software and AI capabilities across various industries.
The Series E round saw participation from a diverse group of new and existing investors, including Andreessen Horowitz, General Catalyst, Mary Meeker at BOND, Human Capital, Henry Kravis, Mustafa Suleyman, Ray Dalio, John Quinn, and former Formula 1 world champion Nico Rosberg. This broad investor base highlights strong confidence in Applied Intuition's technology and market position. The company, founded in 2017, provides software tools that accelerate the development and adoption of safe and intelligent machines globally.
Bilal Zuberi, General Partner at Lux Capital, emphasized the strategic importance of Applied Intuition's work. "Applied Intuition benefits from generational megatrends including generative AI, autonomous systems, and software-defined vehicles," Zuberi stated. "It is no wonder the company has built a scalable business and become an indispensable partner to top automotive OEMs and the U.S. military." This statement, echoing sentiments from his social media, highlights the company's critical role in the evolving tech landscape.
The newly secured capital will be primarily directed towards substantial investments in generative AI, aiming to unlock significant value for customers and partners. Applied Intuition plans to leverage advancements in large language models (LLMs) to revolutionize the vehicle software development process. The company also intends to expand its existing product portfolio and continue hiring top-tier software and machine learning engineers.
With this latest funding, Applied Intuition's valuation has seen a substantial jump from its previous round, where it was valued at $3.6 billion in late 2021. The company has demonstrated consistent growth, achieving profitable triple-digit percentage growth year-over-year, and boasts an installed base that includes 18 of the top 20 global automakers. This financial milestone positions Applied Intuition to further solidify its leadership in vehicle simulation and autonomous driving technologies.