Applied Intuition, a US-based autonomous vehicle software developer backed by software provider Microsoft, has received $125m in a series C round co-led by Lux Capital, Andreessen Horowitz and General Catalyst.
The company did not reveal the identity of any participant apart from the three venture capital firms but said the round was fully funded by existing investors. The cash was raised at a $1.25bn valuation, two sources with knowledge of the deal told Forbes.
Founded in 2017, Applied Intuition provides software that can help test autonomous driving systems. Customers can track performance data gained from events during simulations and live testing, and put on thousands of simulated events to assess how the technology would react.
General Catalyst led the company’s $40m series B round in September 2019, investing alongside Microsoft’s corporate venturing unit, M12, in addition to Kleiner Perkins, Andreessen Horowitz, Lux Capital, Floodgate, La Famiglia and Sozo Ventures.
Andreessen Horowitz had previously led an $11.5m series A round for Applied Intuition the year before that included Lux Capital, Floodgate, SV Angel, Semil Shah, Naval Ravikant, Elad Gil, Arjun Sethi, John Doerr and Neeraj Arora.
The latest funding was announced alongside news Applied Intuition is adding new offices in Los Angeles and South Korea to existing offices in Silicon Valley, Detroit, Germany and Japan. It told Forbes its sales have increased during the coronavirus pandemic.
