Waymo Secures $2.5 Billion in Latest Funding Round Under New Leadership
Alphabet's self-driving unit Waymo raises $2.5 billion from a group of existing investors to expand its autonomous driving platform. The funding arrives just months after a leadership transition replaced former CEO John Krafcik with two co-CEOs.
Waymo, the autonomous driving unit under Alphabet, raises $2.5 billion in its second external funding round. The company plans to use this capital to expand its Waymo Driver platform and grow its workforce. A roster of existing investors, including Alphabet, Andreessen Horowitz, Silver Lake, and Tiger Global, participates in this latest financial boost.
This major investment follows a notable leadership shift at the company. Former CEO John Krafcik steps down in April after five years, leaving co-CEOs Tekedra Mawakana and Dmitri Dolgov to guide the organization. Krafcik previously oversaw the company's initial $2.25 billion external raise in 2020, which later expanded by an additional $700 million.
Beyond its ride-hailing service in Metro Phoenix, Waymo actively expands its Waymo Via trucking division. The company currently partners with J.B. Hunt on a pilot program to transport goods autonomously between Houston and Fort Worth, Texas. This new funding provides additional resources to scale both its passenger and commercial freight operations.