Runway Lands $50M in Series C Round

Applied Artificial Intelligence (AI) research company Runway announced a $50M Series C funding round led by Felicis. Existing investors Amplify Partners, Coatue, Compound, and Lux Capital participated, along with new investor Madrona. The funding allows the company to enter the next phase of growth and advance their position in generative AI, with research on multimodal AI systems for content creation.

With customers like CBS, New Balance, Harbor Picture Company, and Publicis as customers, Runway continues to be on the leading edge of generative AI.

“As content needs continue to skyrocket, creators will become overwhelmed by the volume of rote tasks their jobs require. Runway is pushing the boundaries of creativity and enabling creators to meet these demands and enhance their craft, while saving enterprises and creatives significant amounts of time and money with recent advancements in AI.” Runway CEO and Co-founder Cristóbal Valenzuela said in a company release.

With a focus on video automation and synthetic media, the company’s suite of tools are empowering the next generation of creators.