Key Takeaways
- • Applied Intuition is in talks to raise at least $1.5 billion in a round led by General Catalyst, valuing the company at roughly $30 billion before new money, according to Bloomberg citing people familiar with the matter.
- • The valuation would double the company's $15 billion valuation from its June 2025 Series F and tender offer, which was co-led by Kleiner Perkins and funds managed by BlackRock.
- • General Catalyst reportedly plans to invest $250 million, per one person familiar with the talks.
- • The company is targeting fiscal 2026 revenue above $560 million, up about 19% from $474 million, with forecasts above $1 billion in 2027 and $1.8 billion in 2028.
- • Neither Applied Intuition nor General Catalyst has commented, and terms could still change.
Summary
Applied Intuition, the Mountain View-based company that builds software, operating systems and autonomy for vehicles and defence, is in talks to raise at least $1.5 billion in a round led by General Catalyst, Bloomberg reported on November 11, citing people familiar with the matter. The deal would value the company at roughly $30 billion before the new capital, double its valuation in June 2025. According to one person cited by Bloomberg, General Catalyst plans to contribute $250 million. The talks are ongoing, and neither company has publicly commented, so terms could change.
The company's previous round, a $600 million Series F and tender offer in June 2025, valued it at $15 billion and was co-led by Kleiner Perkins and funds managed by BlackRock. Founded in 2017 by Qasar Younis and Peter Ludwig, Applied Intuition has been expanding further into defence, including autonomy work for naval platforms, while maintaining automotive, trucking, construction, mining and agriculture customers.
According to the Bloomberg report, Applied Intuition is targeting fiscal 2026 revenue of more than $560 million, up about 19% from $474 million in the prior year. The company forecasts revenue above $1 billion in 2027 and $1.8 billion in 2028. These projections are company targets as reported and have not been independently verified.
The company's previous round, a $600 million Series F and tender offer in June 2025, valued it at $15 billion and was co-led by Kleiner Perkins and funds managed by BlackRock. Founded in 2017 by Qasar Younis and Peter Ludwig, Applied Intuition has been expanding further into defence, including autonomy work for naval platforms, while maintaining automotive, trucking, construction, mining and agriculture customers.
According to the Bloomberg report, Applied Intuition is targeting fiscal 2026 revenue of more than $560 million, up about 19% from $474 million in the prior year. The company forecasts revenue above $1 billion in 2027 and $1.8 billion in 2028. These projections are company targets as reported and have not been independently verified.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.