Cruise Raises $2B to Help Commercialize Its Self-Driving Cars

This new investment values the autonomous vehicle startup at $30 billion.

Written by Gordon Gottsegen
Published on Jan. 19, 2021
Cruise Raises $2B  to Help Commercialize Its Self-Driving Cars
Cruise self-driving car
Photo: Cruise

San Francisco-based autonomous vehicle startup Cruise is teaming up with General Motors and Microsoft in order to commercialize its fleet of self-driving cars. In addition to this partnership, Cruise also announced that it received a $2 billion investment from Microsoft, Honda, GM and others. This brings the company’s valuation to $30 billion.

Cruise was founded in 2013 and then acquired by GM in 2016. The company has been one of the leaders in the push to make self-driving cars widely available. It’s spent years developing AV hardware and software and now has a fleet of all-electric, shared, self-driving cars across the country. Chances are you may have seen its white and orange cars rolling around the streets of San Francisco.

Related10 Bay Area Tech Startups Raised $1.2B+ in Funding Last Week

But now that Cruise has the technology in place and access to a legion of AVs, the next step is finding a way to maximize its profits off of its cars. That’s where Microsoft comes in. This new partnership will allow Cruise to leverage Microsoft’s Azure cloud and edge computing platform. Since self-driving cars rely on hordes of data and AI, Microsoft’s platform will help Cruise vehicles get quick access to this information from wherever the cars are deployed.

“Our mission to bring safer, better, and more affordable transportation to everyone isn’t just a tech race — it’s also a trust race,” Cruise CEO Dan Ammann said in a statement. “Microsoft, as the gold standard in the trustworthy democratization of technology, will be a force multiplier for us as we commercialize our fleet of self-driving, all-electric, shared vehicles.”

“Advances in digital technology are redefining every aspect of our work and life, including how we move people and goods,” Microsoft CEO Satya Nadella added. “As Cruise and GM’s preferred cloud, we will apply the power of Azure to help them scale and make autonomous transportation mainstream.”

Cruise parent company GM will also partner with Microsoft for its own cloud computing needs.

This partnership and investment will help accelerate Cruise’s expansion push by giving it the technology and capital to deploy its fleet.

Meanwhile, Cruise is also rapidly expanding its company. Cruise has over 2,000 employees, according to LinkedIn, and currently has hundreds of job listings on its website — over 190 of which for its SF headquarters. The company also has offices in Phoenix and the Seattle area.

Also in San FranciscoAffirm and Poshmark Go Public, NUVIA Acquired, and More

Hiring Now
Fintech • Payments • Financial Services