Alphabet's self-driving car subsidiary, Waymo, announced on Monday that it has completed a $16 billion funding round, bringing the company's post-money valuation to $126 billion.
This funding round is the latest move by Alphabet to support Waymo's further expansion into more markets.
The current valuation is more than double the valuation Waymo achieved in its previous funding round in October 2024. That earlier round was the company's Series C, which raised $5.6 billion at a $45 billion valuation.
Waymo's Co-CEOs, Tekedra Mawakana and Dmitri Dolgov, wrote in a blog post: "This milestone is built on a foundation of safety, and today, Waymo's safety record is statistically superior to that of human drivers. We are no longer validating a concept; we are scaling a commercial reality."
The latest funding round was led by Alphabet and included participation from existing investors such as Andreessen Horowitz, Fidelity, Perry Creek, Silver Lake, Tiger Global, and T. Rowe Price. Other investors include Dragoneer Investment Group, DST Global, Sequoia Capital, Kleiner Perkins, and GV, the investment arm of Alphabet.
According to the Waymo blog post, Alphabet itself is the "lead investor."
Waymo's autonomous ride-hailing service currently operates in areas including Austin, the San Francisco Bay Area, Phoenix, Atlanta, Los Angeles, and Miami.
In 2026, Waymo plans to launch services in Dallas, Denver, Detroit, Houston, Las Vegas, Miami, Nashville, Orlando, San Antonio, San Diego, and Washington, D.C. Additionally, the company plans to expand to London, marking its first international market.
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