We are excited to announce today that we closed a $50m Series C led by Felicis with participation from all of our existing investors: Amplify Partners, Lux Capital, Coatue, and Compound. Additional investors who joined this round include Madrona and angels Guillermo Rauch (CEO of Vercel), Amjad Masad (CEO of Replit), Howie Liu (CEO of Airtable), Soumith Chintala (Co-creator and lead of PyTorch), Lukas Biewald (CEO of Weights & Biases), Jay Simons (former President of Atlassian), and others. We are humbled by all of the support and are thrilled to be partnering with the incredible team at Felicis for the next stage of Runway.
This funding will allow us to double down on building the next generation of creative tools. Our existing research and the open-source release of Stable Diffusion has forever transformed the Generative AI landscape and we are thrilled to continue building state-of-the-art multimodal AI systems. We will also be growing our team and continuing to hire across engineering, research, GTM, and our in-house creative agency.
Runway was formed in 2018, and since then we have built a creative suite with more than 30 AI Magic Tools that allow our users to generate and edit content, serving every aspect of the creative process. We’re helping companies of all sizes — including CBS, Publicis, and New Balance — own their multimedia content creation and are saving our users immense amounts of time and money.
We couldn’t be prouder of what we’ve built over the last four years as pioneers in Generative AI, but we know this is only the beginning. Together with our new partners, we will continue to push the boundaries of creativity, lower the barriers of content generation, and unfasten a new wave of storytelling. The best is yet to come.