Applied Intuition – a vehicle software supplier for the automotive, trucking, construction, mining, agriculture, and other industries – announced it raised a $250 million Series E funding round at a $6 billion valuation. This funding round was led by Bilal Zuberi at Lux Capital (Series C lead investor), Elad Gil (Series D lead investor), and strategic investor Porsche Investments Management. Applied Intuition also revealed new and existing investors, including Andreessen Horowitz (Series A lead investor), General Catalyst (Series B lead investor), Mary Meeker at BOND, Human Capital, Henry Kravis, Mustafa Suleyman, Ray Dalio, John Quinn, and Nico Rosberg.
Applied Intuition has been seeing profitable triple-digit percentage growth year-over-year. And the company expanded beyond its Silicon Valley headquarters to Detroit, Washington, D.C., Germany, Korea, and Japan. Applied Intuition also has customers worldwide, including 18 of the top 20 automotive OEMs.
The company will use the funding to make investments in generative AI. With advancements in large language models (LLMs), Applied Intuition is positioned to help customers transform the vehicle software development process. And Applied Intuition will continue recruiting talented software and AI engineers to further expand offerings, enabling customers to have advanced driver-assistance systems (ADAS) and automated driving (AD) solutions.
KEY QUOTES:
“Applied Intuition benefits from generational megatrends including generative AI, autonomous systems, and software-defined vehicles. It is no wonder the company has built a scalable business and become an indispensable partner to top automotive OEMs and the U.S. military. Applied Intuition is at the forefront of the AI revolution to transform the global transportation industry, and we are excited by its growth and distinctive position in the market. The best evidence is our enthusiasm to invest in every opportunity in the company’s history.”
– Bilal Zuberi, General Partner at Lux Capital
“More than ever, consumers expect exclusive and seamless software integration in their cars. With this strategic investment and partnership we want to further strengthen Porsche’s expertise in the field of software and customer experience.”
– Lutz Meschke, CFO at Porsche AG
“Within the last few years, we’ve seen massive advances in artificial intelligence that will have groundbreaking impacts on the industries that Applied Intuition serves. Our role as a leader in the ecosystem is to bring the best of what Silicon Valley has to offer to our global customer base. Our industry-leading vehicle software products will infuse AI technology to expand beyond our definitive ADAS and AD toolchain, which will exponentially accelerate the production of next-generation vehicles.”
– Qasar Younis, CEO and Co-Founder of Applied Intuition
