Waymo confirmed it raised a $16 billion investment round valuing the company at $126 billion post-money, marking what it described as a shift from proving autonomous driving to scaling it commercially. The company said the financing was led by Dragoneer Investment Group, DST Global, and Sequoia Capital, with participation from Andreessen Horowitz, Mubadala Capital, Bessemer Venture Partners, Silver Lake, Tiger Global, and T. Rowe Price, alongside additional investors including BDT & MSD Partners, CapitalG, Fidelity Management & Research Company, GV, Kleiner Perkins, Perry Creek Capital, and Temasek. Waymo said Alphabet remains its majority investor.
The company framed the raise around both safety performance and growing ride volume. Waymo said it has completed 127 million miles of fully autonomous operation and reported a 90% reduction in serious injury crashes, attributing the results to removing leading contributors to road incidents such as distraction, impairment, and fatigue. Waymo also said 2025 represented a step change in usage, claiming it more than tripled annual volume to 15 million rides and surpassed 20 million lifetime rides.
Waymo said it is now providing more than 400,000 rides every week across six major U.S. metropolitan areas and plans to lay the groundwork for ride hailing operations in more than 20 additional cities in 2026, including Tokyo and London. It also pointed to a recent launch in Miami as part of its near term rollout. The company said the new capital is intended to support faster scaling while maintaining its safety standards, including expanding its fleet and adding to its team to meet what it characterized as rising demand for autonomous mobility.
Waymo also emphasized the role of trust from riders, community partners, policymakers, and regulators as it expands, positioning the next phase as a push toward broader domestic and international availability.
KEY QUOTES:
“As a technology leader in the trillion dollar transportation market, Waymo has moved beyond research milestones to achieve operational excellence, tripling its weekly paid rides in just one year while maintaining customer delight. Waymo is an exceptional business, leveraging its compounding data advantage to usher in a new era of transportation and a safety culture that can save millions of lives. We’re excited to partner with Tekedra, Dmitri and team as they expand the magic of the Waymo Driver to 20 additional cities and beyond.”
Konstantine Buhler, Partner at Sequoia
“Waymo has brought autonomous driving from science fiction to reality. It’s saving lives already, with significantly fewer serious injury crashes compared to human drivers. As it scales in 2026 and beyond, Waymo will boost productivity and accessibility for millions while improving road safety worldwide. Autonomous driving, led by Waymo, will have a profound impact on how we live and work, including reimagining cities. We are excited to partner with Tekedra, Dmitri and the Waymo team to be a part of this future.”
Saurabh Gupta, Co-Founder of DST Global
“Dragoneer partners with a small number of companies that can fundamentally transform the world through category-defining technology and products. Waymo has not only taught a car to drive itself, but to do so meaningfully better than any human or competing system, and we believe that lead will endure. We have studied autonomous driving for over a decade and could not be more excited to back Tekedra, Dmitri, the formidable engineering team, and the entire Waymo organization, who are poised to permanently change how people and goods move through communities around the globe. The technology is extraordinary, the opportunity is vast, and we believe an exciting future is coming where Waymo will provide the safer and more convenient choice for families everywhere.”
Jared Middleman, Partner at Dragoneer
