Funding round
Runway Series D
Runway, which works in financial modeling platform development in San Francisco, raised $308M in a Series D round announced on 3 Apr 2025, led by General Atlantic, at a $3.00B post-money valuation. 16 firms took part, 8 of them already investors. It is Runway's fifth venture round on record; the one before was a Series C in Jun 2023.
$308M
Amount raised
$3.00B
Post-money valuation
$2.69B pre-money
16
Investors
1 lead
2.0x
Step-up from the Series C
$1.50B in Jun 2023
10%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Runway at $3.00B after the new money, 2.0 times the $1.50B of its Series C (Jun 2023). The $308M bought investors about 10% of the company. It came 22 months after Runway's Series C. It is 38% of the $810M Runway has raised in the venture rounds on record. Runway raised again 10 months later: a Series E round of $315M in Feb 2026, at $5.30B post-money.
Runway's funding rounds
Runway has 6 venture rounds on record. This one is highlighted.
- Seed 1 Jan 2018 $2.0M
- Series A 16 Dec 2020, led by Amplify Partners $8.5M
- Series B 15 Dec 2021, led by Coatue $35M
- Series C 29 Jun 2023, led by GV $141M$1.50B post-money
- Series D this round 3 Apr 2025, led by General Atlantic $308M$3.00B post-money
- Series E 10 Feb 2026, led by General Atlantic $315M$5.30B post-money
Investors
Who put money in
General Atlantic led the round with 15 other firms. General Atlantic, Initialized, Felicis and Amplify Partners and 4 more had backed Runway before.
Lead investor
- General Atlantic backs 134 venture-backed companies existing investor
Also in the round
- Fidelity Management & Research Company new investor
- Baillie Gifford new investor
- Nvidia new investor
- SoftBank new investor
- GV backs 428 venture-backed companies new investor
- Salesforce Ventures backs 314 venture-backed companies new investor
- backs 115 venture-backed companies existing investor
- Rogue Venture Partners new investor
- Felicis backs 237 venture-backed companies existing investor
- Amplify Partners existing investor
- Lux Capital backs 194 venture-backed companies existing investor
- Coatue backs 229 venture-backed companies existing investor
- backs 142 venture-backed companies existing investor
- backs 32 venture-backed companies existing investor
- Fidelity Investments new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
109 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $100M, and this round was 3.1 times the median. The closest in time, other companies' Series D rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Chainguard Tech Companies | 23 Apr 2025 | $356M | $3.50B | Kleiner Perkins and Institutional Venture Partners |
| Supabase Tech Companies | 22 Apr 2025 | $200M | $2.00B | Accel |
| Tech Companies | 30 Apr 2025 | $200M | $2.00B | Founders Fund and Ribbit |
| Tech Companies | 7 Apr 2025 | $115M | not disclosed | not named |
| Tech Companies | 28 Apr 2025 | $108M | $808M | New Enterprise Associates |
| Tech Companies | 2 Apr 2025 | $100M | $1.00B | StepStone Group |
| Tech Companies | 3 Apr 2025 | $100M | $1.00B | GV |
| Tech Companies | 1 Apr 2025 | $82M | $2.20B | Sequoia Capital and CapitalG |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Runway raise in its Series D round?
Runway raised $308M in its Series D round, announced in Apr 2025.
Who led Runway's Series D round?
General Atlantic led it, with Fidelity Management & Research Company, Baillie Gifford, Nvidia, SoftBank and GV and 10 more.
What was Runway's valuation at the Series D round?
$3.00B post-money ($2.69B pre-money).
How does it compare with other Series D rounds in Tech Companies?
109 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $100M, and this round was 3.1 times the median.
Did Runway raise again after this round?
Yes: a Series E round in Feb 2026 of $315M at $5.30B post-money.