Applied Intuition, a lesser-known player in self-driving vehicle testing, is reportedly discussing with investors to raise capital at a $15 billion valuation. This information was cited from sources that shared this update and knew the talk firsthand. Existing investor Kleiner Perkins is said to be leading the round.
Potential funding follows a strong year for California-based Mountain View. By the end of last year, Applied Intuition had hit around $400 million in annual recurring revenue (ARR), doubling that figure from the previous year, according to another source and potential investors.
“Applied Intuition is an eight-year-old developer of simulation software for training self-driving cars, and has more than doubled its valuation from a year ago, according to people with direct knowledge of the discussion to raise capital at a $15 billion valuation with investors. Existing investors Kleiner Perkins are in talks to lead the round,” the information reported.
Applied Intuition first attracted attention in 2020, when the startup reached unicorn status at a $1.25 billion valuation after securing $125 million in Series C funding co-led by Lux Capital and Andreessen Horowitz.
While companies like Tesla and Waymo dominate the headlines, Applied Intuition works behind the scenes and provides simulation software that helps train self-driving cars. Its software infrastructure is designed to help businesses develop, test and deploy self-driving vehicles at scale and safely. The set of tools is built for businesses of all sizes and provides comprehensive solutions to test and speed up self-driving vehicle development.
Intuition of application
Founded in 2017 by Qasar Younis and Peter Ludwig, the intuition applied its position as a connector between Silicon Valley and traditional car manufacturers. Eunice, who previously co-founded the Google-acquired startup and served as the COO of Y Combinator, studied at General Motors Institute of Technology in Michigan. Ludwig earned both an undergraduate and a master’s degree from the University of Michigan. Both founders later moved to California, where they work together to modernize software solutions for the automotive sector, simplifying the integration of autonomous features of vehicles.
Younis explained the challenges faced by many automotive engineers, saying, “If you’re a global OEM engineer, let’s say you’re working at Hyundai, Korea. It’s very easy to log in on the first day and have access to the tools. That’s not how it works for today’s automotive engineers. It could take several months to get your engineering setup.”
Applied Intuition appears to widen its impact and secure additional funding, making it a key player in promoting the development of autonomous driving technology more efficiently and at scale.
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