US-based autonomous vehicle development software publisher Applied Intuition has received $40m of series B funding from investors including M12, the corporate venturing subsidiary of software publisher Microsoft.
The round was led by General Catalyst and was also backed by fellow venture capital firms Kleiner Perkins, Andreessen Horowitz, Lux Capital and Floodgate, in addition to VC funds La Famiglia and Sozo Ventures.
Applied Intuition has built a suite of software tools that enable manufacturers of autonomous vehicles to simulate and analyse their product’s onboard operating system for performance and safety testing.
The series B proceeds will support the company’s growth plans, specifically galvanising attempts to expand internationally in response to increased customer demand.
Applied Intuition currently has clients in markets including the US, Europe and Asia. Use-cases for its software include automated taxis, trucks and goods delivery networks.
The company raised $11.5m in a September 2018 series A round led by Andreessen Horowitz that also featured Lux Capital, Floodgate, SV Angel and angel investors Semil Shah, Naval Ravikant, Elad Gil, Arjun Sethi, John Doerr and Neeraj Arora.