Applied Intuition, a provider of a simulation platform for autonomous vehicle development, has raised $40 million in Series B financing.
The funding round was led by General Catalyst with participation from Kleiner Perkins, M12 (Microsoft), Sozo Ventures, and La Famiglia.
Previous investors, Andreessen Horowitz, Lux Capital, and Floodgate, also participated in this round.
Applied Intuition says the new investment will enable it to accelerate its growth as an end-to-end virtual infrastructure provider for autonomous system development and to continue its international expansion serving a growing customer base.
Applied provides a range of software tools for developing complex autonomous systems.
This includes a custom-built simulation platform that can be used to test individual modules as well as the full system to advance confidence in test results.
The entire platform is optimized for scale to process large data volumes and run simulations in parallel in order to validate software quality.
Since launching two years ago, Applied has seen rapid customer expansion as a result of its sophisticated platform combining the best of Silicon Valley engineering talent with domain experts in robotics, software and automotive.
Applied Intuition serves customers worldwide in Silicon Valley, Detroit, Europe and Asia among others in a diverse range of use cases with robo-taxis, self-driving trucks, mining, delivery robots, and regulators.
Hemant Taneja, managing director at General Catalyst, says: “The team at Applied Intuition represents a rare combination of top Silicon Valley and Detroit experts who are uniquely equipped to shape the future of the transportation industry.
“What they’re building aims to move the entire industry forward in part by significantly increasing the velocity of software development.
“That intersection of focus and skill set makes us believe this team has the potential to become an enduring leader in the autonomy space.”
In September 2018, Applied Intuition announced $11.5 million in Series A funding led by Marc Andreessen from Andreessen Horowitz, bringing its total funding to $51.5 million.