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Runway Announces $50M Series C Led by FelicisRunway, an applied AI research company building the next generation of creativity tools, today announced it has raised a $50M Series C led by new investor, Felicis. Existing investors Amplify Partners, Coatue, Compound, and Lux Capital participated in the round including new investor Madrona, further validating Runway's generative AI leadership position and advancing its research of multimodal AI systems for content creation. Runway is at the forefront of advancements in generative AI and creative AI, naming companies like CBS, New Balance, Harbor Picture Company, and Publicis as customers. It also developed Latent Diffusion and Stable Diffusion, state-of-the-art AI models for image generation. With these new funds, Runway will continue to accelerate its strategic business initiatives including broadening development of its robust suite of tools, particularly around audiovisual applications, hiring top-talent across engineering, research, GTM, and incorporating an in-house creative agency. "Powered by proprietary cutting-edge AI research, Runway empowers individuals and leading creative teams all over the world to create multimedia content in magical ways and collaborate over a browser in 4K definition," said Aydin Senkut, Founder and Managing Partner at Felicis. "We're thrilled to partner with Cris, Anastasis and Alejandro as they continue to grow and expand the universe of creative tools at a blazing-fast pace." Runway is doubling down on its efforts to democratize content creation and make professional multimedia creation more accessible. Since its last funding round in October 2021, the company has made significant progress in developing and scaling its offerings into new verticals, while broadening the accessibility of generative AI capabilities. Runway continues to expand its pioneering generative suite to serve the tens of millions of creative users that exist today, this includes:
About Runway Runway is building the next generation of creative tools that makes machine learning easy and accessible for all types of creatives. With an active and growing community, Runway is pioneering how content and media are created. With a focus on video automation and synthetic media, Runway reduces the costs of creating visual media across creative industries. To learn more and sign up for a free account visit www.runwayml.com. About Felicis Founded in 2006, Felicis is a venture capital firm investing in companies reinventing core markets, as well as those creating frontier technologies. Felicis focuses on early stage investments and currently manages over $2.1B in capital across 8 funds. The firm is an early backer of more than 47 companies valued at $1B+. More than 100 of its portfolio companies have been acquired or gone public, including Adyen (IPO), Credit Karma (acq by Intuit), Cruise (acq by General Motors), Fitbit (IPO), Guardant Health (IPO), Meraki (acq by Cisco), Ring (acq by Amazon), and Shopify (IPO). The firm is based in Menlo Park, CA. Learn more at www.felicis.com.
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