- Companies
- Figure
Figure Valuation, Funding & Investors
Figure is valued at $39B as of September 2025.
About Figure
Figure is a robotics company developing general-purpose humanoid robots for industrial applications in manufacturing, logistics, warehousing, and retail. Sunnyvale-based and founded in 2022, it deploys the Figure 01 model equipped with AI-driven vision, manipulation, and mobility capabilities powered by OpenAI's large language models for natural interaction and task learning. The robots handle repetitive and hazardous tasks autonomously, integrating with existing warehouse management systems from partners like BMW for automotive production lines. Figure operates pilot programs in BMW's South Carolina facility to validate scalability across labor-intensive sectors.
Founded
2022
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Valuation
$39B (Sep 2025)
Figure Valuation
Figure is currently valued at $39B, based on its Series C in September 2025.
The $1B round was led by Parkway Venture Capital.
Figure's valuation has grown 98x from $400M at its Series A in May 2023 to $39B in September 2025, across 3 priced rounds.
Figure valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Sep 2025 | Series C | $39B |
| Feb 2024 | Series B | $2.6B |
| May 2023 | Series A | $400M |
Figure Funding History
Figure has raised a total of $1.8B across 5 funding rounds.
Figure's first fundraising round was a $100M seed round in May 2022. The most recent completed round was a strategic investment round in September 2026.
Figure funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2026 | Strategic investment | Nscale (lead) | - | - | Nscale announced a multi-year strategic partnership with Figure on September 3, 2026, under which Nscale will provide compute resources for Figure’s humanoid robotics and AI model development, initially committing $3.5 billion of compute and intending to scale the arrangement to more than $6 billion. The agreement also makes Nscale a Figure shareholder and Figure’s preferred compute provider, with deployment targeted to begin in the second half of 2027 in Barstow, Texas, and with potential deployment of up to 100,000 NVIDIA GPUs. The partnership is positioned around Figure’s Helix models and humanoid robotics stack, with Nscale describing the arrangement as part of a vertically integrated AI infrastructure strategy that combines power, compute orchestration, and NVIDIA-based AI infrastructure. The commercial relationship is framed as a long-term supply and strategic investment relationship rather than a conventional equity financing, with the compute commitment serving as the centerpiece of the transaction. Figure is a humanoid robotics company, and Nscale is an AI cloud platform and infrastructure provider. The deal is intended to support the next generation of physical AI and expand the compute capacity available for Figure’s training and deployment needs. |
| Sep 2025 | Series C | Parkway Venture Capital (lead) | $1B | $39B | Figure AI is a San Jose-based humanoid robotics company founded in 2022 that develops general-purpose robots for commercial and industrial applications. The company's AI system, called Helix, is a vision-language-action model that powers robot perception, reasoning, and control. Figure raised over $1 billion in Series C funding at a $39 billion post-money valuation in September 2025, led by Parkway Venture Capital with participation from major institutional investors including Brookfield Asset Management, NVIDIA, Intel Capital, Macquarie Capital, Align Ventures, Salesforce, and others. This represents a 15-fold increase from the company's $2.6 billion valuation following its $675 million Series B in early 2024. The funding will be used to scale humanoid robot production through its BotQ manufacturing facility, accelerate GPU infrastructure for AI training, and expand real-world deployments in commercial and household settings. Figure has raised approximately $2 billion in total funding since its founding and has over 300 employees. |
| Feb 2024 | Series B | Align Ventures; NVIDIA; Bold Capital Partners; Microsoft; Amazon; Evolution VC Partners; ARK Venture Fund; OpenAI; Bezos Expeditions; Manhattan Venture Partners (MVP); Intel Capital | $675M | $2.6B | Figure AI Inc. is an AI robotics company developing general purpose humanoid robots, with a team of experts from Boston Dynamics, Tesla, Google DeepMind, and Archer Aviation. On February 29, 2024, Figure raised $675 million in a Series B funding round at a post-money valuation of $2.6 billion. Investors included Microsoft, OpenAI Startup Fund, NVIDIA, Jeff Bezos through Bezos Expeditions, Parkway Venture Capital, Intel Capital, Align Ventures, and ARK Invest, matching several names from the query such as Align Ventures, NVIDIA, Microsoft, ARK, Bezos Expeditions, Intel Capital, and OpenAI. The funding accelerates Figure's timeline for humanoid commercial deployment, including scaling AI training, robot manufacturing, expanding engineering headcount, and advancing commercialization efforts. Figure signed a collaboration agreement with OpenAI to develop next-generation AI models for humanoid robots and will leverage Microsoft Azure for AI infrastructure, training, and storage. The company recently announced its first commercial agreement with BMW Manufacturing to deploy humanoids in automotive production. |
| May 2023 | Series A | Parkway Venture Capital (lead); Bold Capital Partners; FJ Labs | $70M | $400M | - |
| May 2022 | Seed | Brett Adcock (lead) | $100M | - | Figure AI, founded in 2022 by Brett Adcock, develops AI-powered humanoid robots for general-purpose tasks in commercial and household settings. The company confirmed a $100 million seed investment from founder Brett Adcock around May 2022, marking its initial funding. Subsequent funding included a $70 million Series A in May 2023 led by Parkway Venture Capital, with a reported $500 million valuation, followed by a $675 million Series B in February 2024 at a $2.6 billion valuation, backed by Microsoft, NVIDIA, OpenAI Startup Fund, Jeff Bezos via Bezos Expeditions, Parkway VC, and others. Parkway Venture Capital, Tamarack Global, FJ Labs, Aliya Capital, Till Reuter, Bold Capital Partners, and Intel Capital participated in the Series A. Figure AI raised over $1 billion in its Series C round in September 2025, achieving a $39 billion post-money valuation, led by Parkway Venture Capital with Brookfield Asset Management, NVIDIA, Macquarie Capital, Intel Capital, Align Ventures, Tamarack Global, LG Technology Ventures, Salesforce, T-Mobile Ventures, and Qualcomm Ventures. Total funding across rounds reached approximately $1.9 billion. The company has delivered Figure 02 systems to paying customers by December 2024 and received a 2024 RBR50 Robotics Innovation Award for rapid humanoid robot development. Funds from later rounds support scaling AI platforms, manufacturing, robot training, and data collection. |
Who has invested in Figure?
15 investors have backed Figure across its funding rounds, including Bold Capital Partners, Parkway Venture Capital, FJ Labs, Intel Capital, Amazon and NVIDIA.
Lead investors include Nscale, Parkway Venture Capital and Brett Adcock.
Figure Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Participant | May 2023 | ||
| 2 | Lead | May 2023 | ||
| 1 | Participant | Feb 2024 | ||
| 1 | Participant | Feb 2024 | ||
| 1 | Participant | Feb 2024 | ||
| 1 | Participant | Feb 2024 | ||
| 1 | Participant | Feb 2024 | ||
| 1 | Participant | May 2023 | ||
| 1 | Participant | Feb 2024 | ||
| 1 | Participant | Feb 2024 | ||
| 1 | Participant | Feb 2024 | ||
| 1 | Participant | Feb 2024 | ||
| 1 | Lead | May 2022 | ||
This data is available for Pro users. Sign up to see all 15 Figure investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialFigure Competitors
Figure competitors include listed companies like UBtech Robotics and Kodiak AI, and private ones like Skild AI, NEURA Robotics, Physical Intelligence and Apptronik.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $298M | ($108M) | $5.1B | 9.5x | ||
| Private | $30M | - | $14B | - | ||
| Private | - | - | $7B | - | ||
| Private | - | - | $5.6B | - | ||
| Private | - | - | $5.3B | - | ||
| Publicly listed | $4M | ($577M) | $768M | 98.7x |
Figure Public Comps
Figure is still privately-owned, but its public comps include Unitree Robotics, Zebra, Aurora Innovation, Cognex, Aptiv, Mobileye, Symbotic, UBtech Robotics, Stryker and Tesla.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $253M | $55M | 118.8x | - | 548.5x | - | |||
| $5.4B | $853M | 3.6x | 3.2x | 22.6x | 13.8x | |||
| $3M | ($786M) | 3957.3x | 1040.1x | (15.1x) | (15.5x) | |||
| $994M | $214M | 10.0x | 9.0x | 46.4x | 31.7x | |||
| $20B | $2.2B | 0.7x | 0.9x | 6.3x | 5.4x | |||
| $1.9B | $140M | 2.8x | 2.7x | 38.5x | 12.3x | |||
| $2.2B | ($35M) | 2.0x | 1.6x | (128.5x) | 13.3x | |||
| $298M | ($108M) | 16.6x | 9.5x | (45.7x) | (108.4x) | |||
This data is available for Pro users. Sign up to see all Figure competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Figure
| When was Figure founded? | Figure was founded in 2022. |
| Where is Figure headquartered? | Figure is headquartered in San Jose, CA, United States. |
| Is Figure publicly listed? | No, Figure is a private, VC-backed company. |
| What is Figure's valuation? | Figure was last valued at $39B in its Series C in September 2025. |
| How much funding has Figure raised? | Figure has raised $1.8B across 5 funding rounds. |
| What was Figure's last funding round? | Figure's last funding round was a strategic investment round in September 2026, led by Nscale. |
| Who are Figure's investors? | Figure's investors include Bold Capital Partners, Parkway Venture Capital, Align Ventures, NVIDIA, Microsoft, Amazon, Evolution VC Partners, FJ Labs, ARK Venture Fund, OpenAI and 5 others. |
| Which companies are comparable to Figure? | Companies comparable to Figure include UBtech Robotics, Skild AI, NEURA Robotics, Physical Intelligence, Apptronik and Kodiak AI. |
See companies similar to Figure
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.




