Waymo Raises $5.6 Billion in Series C - October 25, 2024

Executive Summary

Waymo closed a $5.6 billion Series C funding round to expand its robotaxi operations across multiple US cities, marking the largest investment round in the company's history.

Funding Amount: $5.6 Billion

Valuation: $45 Billion

Round Type: Series C

Announced: October 25, 2024

Headquarters: Mountain View, CA

Category: Autonomous Vehicles

About Waymo

Waymo was founded in 2009 and is headquartered in Mountain View, CA. The company currently employs 2,500+ people and operates in the Autonomous Vehicles sector.

Waymo closed a $5.6 billion Series C funding round to expand its robotaxi operations across multiple US cities, marking the largest investment round in the company's history.

Funding Round Details

Investment Amount

Waymo successfully raised $5.6 Billion in this Series C funding round, announced in October 25, 2024.

The round valued the company at $45 Billion post-money.

Lead Investors & Participants

Alphabet (Parent Company / Lead): Google's parent company and Waymo's owner

Andreessen Horowitz (Venture Capital): Premier Silicon Valley VC firm

Fidelity Management (Institutional Investor): Major asset management company

Perry Creek Capital (Growth Equity): Technology-focused growth investor

Silver Lake (Private Equity): Global technology investor

Tiger Global (Hedge Fund): Technology-focused investment firm

T. Rowe Price (Institutional Investor): Global asset manager

Use of Funds

Expanding robotaxi services to Austin and Atlanta, scaling operations in San Francisco, Los Angeles, and Phoenix, and developing next-generation autonomous driving technology.

The capital will enable Waymo to:

• Accelerate product development and innovation
• Expand market reach and customer acquisition
• Scale operations and infrastructure
• Strengthen the team with key hires
• Invest in research and development

Key Metrics & Achievements

• Over 150,000 paid rides per week
• Operating in San Francisco, Los Angeles, and Phoenix
• Plans to expand to Austin and Atlanta
• Total capital raised: $11.1 billion
• Valued at $45 billion post-money

Business Model

Waymo operates an autonomous ride-hailing service (Waymo One) providing fully driverless rides to paying customers in multiple cities, competing with Uber and Lyft.

Market Opportunity & Competition

Leads the US autonomous vehicle market alongside Cruise (GM), with international competitors including Baidu's Apollo Go in China.

The Autonomous Vehicles market continues to experience rapid growth, with increasing demand from enterprises and consumers. Waymo is well-positioned to capitalize on this opportunity with its differentiated technology and strong investor backing.

What This Means for the Industry

This significant funding round demonstrates strong investor confidence in Waymo's vision and execution. The $5.6 Billion investment positions the company to:

1. Accelerate Innovation: Develop next-generation products and features
2. Expand Market Leadership: Capture greater market share in Autonomous Vehicles
3. Scale Operations: Build infrastructure to support rapid growth
4. Attract Top Talent: Recruit world-class engineers, researchers, and business leaders
5. Drive Industry Transformation: Shape the future of Autonomous Vehicles

Company Background

Founded: 2009

Headquarters: Mountain View, CA

Employees: 2,500+

Industry: Autonomous Vehicles

Total Funding: $5.6 Billion+ (this round)

Looking Ahead

With this substantial funding, Waymo is positioned for continued growth and innovation in the Autonomous Vehicles space. The company plans to leverage the capital to expand its market presence, enhance its product offerings, and solidify its position as a leader in the industry.

Investors and industry analysts will be closely watching Waymo as it executes on its ambitious growth plans and works to deliver value to customers and shareholders.

About the Investors

Alphabet: Google's parent company and Waymo's owner

Andreessen Horowitz: Premier Silicon Valley VC firm

Fidelity Management: Major asset management company

This funding announcement was verified through official press releases, SEC filings, and credible news sources including Crunchbase, TechCrunch, and Bloomberg.

Last Updated: October 26, 2025