AI Film and Animation Startup Runway Raises $308 Million in Funding, Valuing It at $3 Billion

variety.com:

Todd Spangler NY Digital Editor Generative AI startup Runway announced $308 million in a new round of funding, which the company said will fund expansion of its film and animation studio.

The Series D round of funding was led by General Atlantic with participation from Fidelity Management & Research Company, Baillie Gifford, Nvidia, SoftBank and other new and existing investors.

That brings Runway to a total of $545 million raised to date, and gives it a valuation of about $3 billion. New York-based Runway’s last publicly reported post-money valuation was $1.5 billion.

Prior investors include Google and Salesforce Ventures. “Today marks an important milestone as Runway announces a significant next step towards our goal of creating a new media ecosystem with world simulators,” CEO and co-founder Cristóbal Valenzuela (pictured above) wrote in a blog post announcing the funding.