Runway Raises $50M in Series C Funding

runway

Runway, a NYC-based applied AI research company building the next generation of creativity tools, raised a $50M Series C funding.

The round was led by new investor Felicis with participation from existing investors Amplify Partners, Coatue, Compound, and Lux Capital and new investor Madrona.

The company intends to use the funds to accelerate its strategic business initiatives including broadening development of its robust suite of tools, particularly around audiovisual applications, hiring talent across engineering, research, GTM, and incorporating an in-house creative agency.

Led by CEO and Co-Founder Cristóbal Valenzuela, Runway is building creative tools that makes machine learning easy and accessible for all types of creatives. With a focus on video automation and synthetic media, the company reduces the costs of creating visual media across creative industries.

Tools includes:

  • AI Training, which allows creators to train their own custom AI models by uploading a series of their own images.
  • AI Magic Tools, Runway’s suite of 30+ magic tools include text-to-image, image-to-image, replace background, green screen, erase-and-replace, frame interpolation, infinite image, and many more.
  • Teams Ready, a platform empowers a new generation of the creative workforce that operates in a remote or hybrid world.
  • High-Resolution Image Synthesis with Latent Diffusion Models.

Customers include companies like CBS, New Balance, Harbor Picture Company, and Publicis as customers.

FinSMEs

05/12/2022