Runway, an applied AI research startup developing the next generation of creativity tools, said today that it had secured a USD 50 million Series C round led by new investor Felicis. Existing investors Amplify Partners, Coatue, Compound, and Lux Capital joined new investor Madrona in the round. This further validated Runway’s generative AI leadership position and advanced its research into multimodal AI systems for content production.
The Runway is at the vanguard of generative and creative AI breakthroughs, with customers like CBS, New Balance, Harbor Picture Company, and Publicis. It also created Latent Diffusion and Stable Diffusion, which are cutting-edge AI models for picture production. With this fresh financing, Runway will continue accelerating its strategic business ambitions, such as expanding its powerful range of tools, particularly for audiovisual applications, employing top talent in engineering, research, and GTM, and incorporating an in-house creative agency.
“Powered by unique cutting-edge AI research, Runway enables people and leading creative teams all over the world to create multimedia content in magical ways and interact in 4K resolution through a browser.” stated Aydin Senkut, Founder and Managing Partner at Felicis. ” We’re excited to work with Cris, Anastasis, and Alejandro as they rapidly build and expand the universe of creative tools.”
Runway CEO and Co-Founder Cristóbal Valenzuela:
“As content demands continue to rise, producers will get overwhelmed by the number of routine chores demanded by their professions. With recent developments in AI, Runway is pushing the frontiers of creativity and enabling artists to fulfill these expectations and better their craft while saving companies and creatives considerable time and money. We are overjoyed to have the support of our newest investors and long-standing partners, which confirms our aim to redefine what is possible with generative AI.”
Runway is developing the next generation of creative tools that make machine learning simple and accessible to all artists. With an active and expanding community, Runway is redefining how content and media are generated. Runway minimizes the expenses of developing visual media across creative sectors by focusing on video automation and synthetic media.
Runway is stepping up its efforts to democratize content production and make professional multimedia creation more accessible to the general public. Since its most recent investment round in October 2021, the firm has made tremendous progress in expanding and growing its products into new sectors while increasing access to generative AI capabilities.
We try our best to fact-check and bring the best, well-researched, and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by!
Next Article
