We’re excited to announce that we’ve raised a $125 million Series C financing round from Lux Capital, Andreessen Horowitz (Series A Lead), and General Catalyst (Series B Lead) with equal participation from each fund. We’re also pleased to welcome Bilal Zuberi, Partner at Lux Capital, to Applied’s Board of Directors joining Marc Andreessen and Hemant Taneja. The round was fully funded by existing investors, bringing our total capital raised to a little over $175 million. You can see more coverage in Forbes.
From a small house in the Sunnyvale suburbs to global offices, the past 3.5 years of our company have been dedicated to accelerating the autonomous system goals for our customers. We started the company with a mission to make it faster and easier to bring autonomy to the market, which means a safer world for everybody.
Since then, we have seen our simulation and infrastructure tools gain widespread adoption across a variety of customer use cases in the automotive industry and beyond.
Our success comes from helping our customers win in their respective domains, and we believe our tools can help drive one's competitive edge. We've built a team that is already larger than any in-house simulation team in the autonomous vehicle (AV) business today, and our planned growth will enable us to continue providing customers with ease of use, extensive documentation, frequent software updates, and unmatched feature depth.
Our customers have another advantage: with the tools portion of their autonomy development being de-risked, they can focus on core, high-value development like getting their AV systems to production.
From Day 1, we’ve concentrated our effort on building tools. This laser focus has allowed us to hire the best software and autonomy engineers for our problem set. By remaining focused, we’ve been able to gain a strong understanding of our domain and create the most advanced technical approaches in the industry.
We are helping to drive down the cost of bringing autonomy to production. Having hundreds of companies make the same tools is costly and redundant. We’re seeing engineers moving between autonomy companies and ramping up quickly because our tools are becoming widespread.
While we started by supporting a handful of AV programs, our goal is to bring autonomy to every market. We now work with customers in a broad range of verticals, including but not limited to automotive, freight/trucking, delivery robots, defense, mining, agriculture, construction, AMR, aviation and more, to make the world a safer place for everyone. As automation advances, we’re excited to go deeper into these verticals.
We already have a significant presence in Silicon Valley, Detroit, Munich, and Tokyo. Today, we’re also announcing our expansion to Los Angeles and Seoul. These local offices exist to support our customers with teams who can speak the same language and offer timely support. Our presence in these cities also allows us to tap into local engineering talent.
Last but not least, a big thank you to our customers, investors, and partners. We have enjoyed this journey so far and are excited for what’s ahead. If we could accomplish this much in a few years, imagine where we can get to in the next ten.
If you’re still reading, there is a good chance you work or are interested in the autonomy business. Consider joining us -- we’re hiring.
- The Applied Team
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