Autonomous mobility company Waymo has raised $16 billion, bringing the company’s total valuation to $126 billion.
Waymo said the fresh capital gives it the ability to scale internationally.
The latest round was co-led by new investors Dragoneer Investment Group, Sequoia Capital and DST Global. Andreessen Horowitz, Mubadala Capital, Bessemer Venture Partners, T.Rowe Price, Tiger Global and Silver Lake also participated, along with other investors. Waymo originated as a project within Google, and Alphabet remains its parent company and was a primary investor in this round.
“This infusion of capital will ensure we are positioned to move forward with unprecedented velocity, while maintaining our industry-leading safety standards,” Tekedra Mawakana and Dmitri Dolgov, co-CEOs of Waymo, wrote in a blog post.
The company intends to bring Waymo Driver, its autonomous driving technology, to more cities in the U.S. and across the globe. Mawakana and Dolgov said Waymo is also growing its fleet and its team as it expands to new markets.
“We are no longer proving a concept; we are scaling a commercial reality, laying the groundwork for ride-hailing operations in over 20 additional cities in 2026, including Tokyo and London,” Mawakana and Dolgov wrote.
In 2025, Waymo tripled its annual volume to 15 million rides. In the U.S., the company said it provides 400,000 rides weekly across six metropolitan areas.
Jared Middleman, partner at Dragoneer, said the firm backs transformative companies.
“Waymo has not only taught a car to drive itself but to do so meaningfully better than any human or competing system, and we believe that lead will endure,” Middleman said
Last week, autonomous driving venture Waabi also secured funding, raising $750 million in a Series C round led by Khosla Ventures and G2 Venture Partners.