Runway has raised $27.5 million in a Series A round led by Initialized Capital, with participation from angels including Elad Gil and Jason Tan. This brings the company's total raised to $33.5 million, following a previously undisclosed $5 million seed round led by Andreessen Horowitz. The platform has attracted customers including Superhuman, Stability AI, and Sandbox VR, and is growing at more than 10x year-over-year.
Key takeaways:
- Siqi Chen, the former president of Sandbox VR, has launched Runway, a strategic management platform for high-growth technology companies that aims to replace spreadsheets with intuitive financial modeling, planning and reporting workflows.
- Runway connects to existing accounting tools, data warehouses and human resources information systems, and allows customers to write formulas and create models that can be incorporated into business plans and scenarios.
- Runway has attracted customers including Superhuman, Stability AI and Sandbox VR, and is growing at more than 10x year-over-year with a pipeline booked out through the end of the year.
- Runway has raised $27.5 million in a Series A round led by Initialized Capital, bringing the company’s total raised to $33.5 million.