Ghost Autonomy Acquisition, Valuation, Funding & Investors
Ghost Autonomy was acquired by Applied Intuition in October 2024.
Cumulative funding Ghost Autonomy raised
$217M
across 6 funding rounds
Key investors in Ghost Autonomy
Sutter Hill Ventures
Khosla Ventures
Founders Fund
Coatue
OpenAI Startup Fund
About Ghost Autonomy
Ghost Autonomy is a Silicon Valley company building AI software for highway self-driving in consumer vehicles. Its stack enables safe, scalable autonomy for automakers integrating into production cars. Focused on perception and planning breakthroughs, Ghost partners with Tier 1 suppliers. Established in 2022, the technology undergoes testing on public roads across California and Texas.
Founded
2017
HQ
San Francisco, CAWebsite
Status
Acquired
Customer focus
B2B
Revenue model
Licensing
Valuation
$574M (Jan 2021)
Ghost Autonomy Acquisition
Ghost Autonomy was acquired by Applied Intuition for an undisclosed price on 22 October 2024.
Before the acquisition Ghost Autonomy had raised $217M across 6 funding rounds.
Ghost Autonomy supplied autonomous driving software, innovating in areas relevant to next-generation vehicle technology. Applied Intuition, a Mountain View, California-based vehicle software supplier founded in 2017, acquired Ghost Autonomy's patent portfolio on October 22, 2024, to expand its intellectual property holdings. The deal terms were not disclosed, and it did not involve acquiring the company itself or its team. Applied Intuition provides an AI-powered ADAS/AD toolchain, vehicle platform, and autonomy stack to accelerate safe and intelligent machines across automotive, trucking, construction, mining, agriculture, and defense sectors. Eighteen of the top 20 global automakers rely on its solutions. The acquisition strengthens Applied Intuition's competitive edge, enhances innovation freedom, and accelerates advancements in autonomous technology to serve customers better, as stated by co-founder and CEO Qasar Younis. This IP-focused transaction aligns with Applied Intuition's 2024 growth strategy, including a $250 million Series E funding round in March at a $6 billion valuation led by Lux Capital, Elad Gil, and Porsche Investments Management, and an oversubscribed $300 million secondary round in July with Fidelity Management & Research. It positions Applied Intuition as a leader in autonomy software amid competitive dynamics in self-driving and ADAS technologies.
| Acquirer | Date | Type |
|---|---|---|
| 22 Oct 2024 | Strategic M&A |
Ghost Autonomy Valuation
Ghost Autonomy is currently valued at $574M, based on its Series D in January 2021.
The $100M round was led by Sutter Hill Ventures, with participation from Founders Fund and Coatue.
Ghost Autonomy's valuation has grown 5.2x from $110M at its Series B in August 2018 to $574M in January 2021, across 2 priced rounds.
Ghost Autonomy valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jan 2021 | Series D | $574M |
| Aug 2018 | Series B | $110M |
Ghost Autonomy Funding History
Ghost Autonomy has raised a total of $217M across 6 funding rounds.
Ghost Autonomy's first fundraising round was a $9M Series A in July 2017. The most recent completed round was a $5M Series E in November 2023.
Ghost Autonomy funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2023 | Series E | OpenAI Startup Fund (lead) | $5M | - | Ghost Autonomy develops scalable autonomous driving software for consumer cars, leveraging large language models and multi-modal LLMs for urban driving capabilities. The company secured a $5 million investment from the OpenAI Startup Fund on November 8, 2023, bringing total funding to $220 million. This round accelerated research into LLM-based scene understanding and testing with its development fleet. OpenAI's COO Brad Lightcap highlighted the potential of multi-modal models for complex environments in autonomy. Prior to this, Ghost Autonomy raised a $55 million Series E round around April or August 2023. The startup partnered with automakers to integrate AI into advanced driver-assistance systems and conducted on-road validation. Despite these efforts and access to Microsoft Azure resources, Ghost Autonomy ceased operations on April 3, 2024, citing uncertain profitability amid the funding climate and long-term needs for autonomy commercialization. |
| Mar 2023 | Series E | - | $55M | - | Ghost Autonomy, formerly Ghost Locomotion, developed autonomy software initially for private vehicles on highways, later shifting to crash prevention technology and consumer-car autonomy solutions. The company, headquartered in Mountain View, California, and founded by Volkmar Uhlig and John Hayes, operated in the transportation, automotive, and logistics sectors, focusing on self-driving and automation technologies. It raised substantial funding over multiple rounds, totaling between $219M and $272.6M across 6-8 rounds from investors including OpenAI Startup Fund, Khosla Ventures, Sutter Hill Ventures, Founders Fund, and Coatue. The specific funding round around February/March 2023 was a Series E (noted as Series E or Series D in some sources) with an approximate date of 3/2/2023 or Feb 2023, carrying a post-money valuation of $100.92 million according to Forge Global. This followed a Series D in January 2021. Later rounds included a $55M late-stage/down round on 11/8/2023 or 11/13/2023 (Series E-II or Series D) led by OpenAI Startup Fund, providing access to AI systems and Microsoft Azure resources. The company ceased operations on April 3, 2024, citing uncertain profitability paths amid challenging funding climate and long-term needs for autonomy development. Despite backing from prominent investors and AI-focused pivots, Ghost Autonomy shut down, highlighting risks in the autonomous vehicle sector. |
| Jan 2021 | Series D | Sutter Hill Ventures (lead); Founders Fund; Coatue | $100M | $574M | Ghost Autonomy, originally founded as Ghost Locomotion in 2017 by John Hayes and Volkmar Uhlig, developed autonomous driving software for automakers, focusing on AI-driven highway autonomy and later crash prevention technology for consumer vehicles. The company pivoted from an initial consumer kit for highway self-driving, planned for 2020 but undelivered, to universal collision avoidance to accelerate market entry. Ghost operated in Mountain View, Dallas, and Sydney, employing around 100 people at its peak. In 2021, Ghost raised $100.1 million in a Series D round led by Sutter Hill Ventures, with participation from Founders Fund and Coatue, at a post-money valuation of $574.26 million. Prior to this, it had secured $63.7 million from investors including Keith Rabois at Founders Fund, Mike Speiser at Sutter Hill Ventures, and Vinod Khosla at Khosla Ventures. The Series D funding supported the company's shift toward commercializing crash prevention tech for automaker partners, amid broader challenges in the autonomous vehicle sector. The startup continued raising capital post-Series D, including a $55 million down round in 2023 with early backers, reaching nearly $220-238.8 million total across eight rounds, and received $5 million from OpenAI's Startup Fund in late 2023 for access to advanced AI systems. Ghost Autonomy shut down worldwide operations on April 3, 2024, after struggling to commercialize its AV technology like many peers. Investors included Sutter Hill Ventures, Founders Fund, Coatue, Khosla Ventures, and OpenAI Startup Fund. |
| Oct 2019 | Series C | Sutter Hill Ventures; Khosla Ventures; Founders Fund | $33M | - | Ghost Autonomy, originally Ghost Locomotion, is an autonomous driving software startup founded in 2017 by John Hayes and Volkmar Uhlig, focused on making self-driving accessible for consumer cars, particularly highway autonomy and later crash prevention technology. The company publicly debuted in 2019 with $63.7 million in total funding from investors including Keith Rabois at Founders Fund, Vinod Khosla at Khosla Ventures, and Mike Speiser at Sutter Hill Ventures, promising a kit for privately owned vehicles to drive autonomously on highways by 2020, a deadline it missed. A specific Series C round on November 7, 2019, raised $32.9 million from Founders Fund, Khosla Ventures, and Sutter Hill Ventures, contributing to cumulative funding at that point. Post-2019, Ghost shifted strategies, raising $100 million in a 2021 Series D led by Sutter Hill Ventures with Founders Fund and Coatue, pivoting to universal collision avoidance for faster market entry. The company continued fundraising, securing a $55 million down round in 2023 from early backers including Founders Fund and Sutter Hill Ventures, and a $5 million seed from OpenAI Startup Fund in November 2023 for access to OpenAI systems and Microsoft Azure. Total funding reached approximately $220-239 million across 8 rounds from 5 investors, including Coatue and OpenAI Startup Fund. Ghost employed about 100 people across Mountain View, Dallas, and Sydney, testing systems in urban environments, but struggled with commercialization amid a tough funding climate for autonomy. The company shut down worldwide operations on April 3, 2024, citing uncertain profitability paths, and is exploring destinations for its innovations. |
| Aug 2018 | Series B | Sutter Hill Ventures; Khosla Ventures | $15M | $110M | Ghost Autonomy, formerly Ghost Locomotion, develops autonomous driving software for automakers, focusing on highway autonomy using AI breakthroughs. Founded in 2017 by John Hayes and Volkmar Uhlig, the company was initially incubated at Sutter Hill Ventures. In its Series B round dated 07/31/2018, Ghost Autonomy raised $22.5 million at a post-money valuation of $109.76 million, with Khosla Ventures and Sutter Hill Ventures as lead investors. This followed an earlier $15 million raise revealed in SEC filings around August 2018, involving partners from Khosla Ventures and Sutter Hill Ventures. The company continued raising capital, accumulating over $238 million across multiple rounds from investors including Founders Fund and Coatue. Ghost Autonomy grew to 29 employees by 2018 and pursued partnerships, but faced challenges in the competitive self-driving market. Despite later funding like a $55 million round in 2023 and a $5 million investment from OpenAI, it ceased operations in April 2024 due to capital constraints and skepticism over its LLM-based approach. |
| Jul 2017 | Series A | Sutter Hill Ventures (lead) | $9M | - | Ghost Autonomy, originally Ghost Locomotion, was founded in 2017 to develop autonomous driving software for consumer vehicles, focusing on highway autonomy using AI. The company received early funding from investors including Sutter Hill Ventures, Keith Rabois at Founders Fund, and Vinod Khosla at Khosla Ventures. By 2019, it had raised $63.7 million total. Sutter Hill Ventures participated in the company's initial rounds, including a Series B on July 31, 2018, raising $22.5 million at a post-money valuation of $109.76 million. Later rounds included a $100 million Series D in 2021 led by Sutter Hill Ventures. The startup shifted focus over time from consumer kits to crash prevention technology. Ghost Autonomy raised nearly $220-238.8 million across 8 rounds before shutting down on April 3, 2024, citing funding climate challenges in autonomy development. |
Who has invested in Ghost Autonomy?
5 investors have backed Ghost Autonomy across its funding rounds, including Sutter Hill Ventures, Khosla Ventures, Founders Fund, Coatue and OpenAI Startup Fund.
Lead investors include OpenAI Startup Fund and Sutter Hill Ventures.
Ghost Autonomy Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| San Francisco, CA | 4 | Lead | Jul 2017 | |
| San Francisco, CA | 2 | Participant | Aug 2018 | |
| San Francisco, CA | 2 | Participant | Oct 2019 | |
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Start Free TrialGhost Autonomy Competitors
Ghost Autonomy competitors include listed companies like Kodiak AI and Cidi, and private ones like Deeproute, Roadstar.ai, D-Robotics and Helm.ai.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Shenzhen | Private | - | - | $600M | - | |
| Shenzhen | Private | - | - | $600M | - | |
 Hong Kong | Private | - | - | $450M | - | |
| San Francisco, CA | Private | - | - | $431M | - | |
| United States | Publicly listed | $4M | ($577M) | $768M | 98.7x | |
| China | Publicly listed | $132M | ($155M) | $1.3B | 5.0x |
Ghost Autonomy Public Comps
Ghost Autonomy is no longer listed, but its public comps include ExaWizards, PKSHA Technology, Reconova Technologies, Beijing Hanyi Innovation, People & Technology, Ropeok Technology Group, Elsight, Kodiak AI, Serve Robotics and SaverOne.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $77M | $13M | 6.6x | 5.7x | 39.3x | - | |||
| $140M | $47M | 4.1x | 2.4x | 12.2x | 10.7x | |||
| $66M | ($8M) | 10.0x | - | (82.0x) | - | |||
| $28M | $5M | 15.6x | 13.9x | 89.9x | 50.9x | |||
| $542M | $77M | 1.2x | 1.2x | 8.8x | 11.5x | |||
| $23M | ($28M) | 18.6x | - | (15.2x) | - | |||
| $23M | $6M | 30.7x | 15.3x | 117.5x | 34.5x | |||
| $4M | ($577M) | 233.9x | 98.7x | (1.5x) | (6.6x) | |||
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Common questions about Ghost Autonomy
| When was Ghost Autonomy founded? | Ghost Autonomy was founded in 2017. |
| Where is Ghost Autonomy headquartered? | Ghost Autonomy is headquartered in San Francisco, CA, United States. |
| Is Ghost Autonomy publicly listed? | No, Ghost Autonomy was acquired by Applied Intuition in October 2024. |
| Who acquired Ghost Autonomy? | Ghost Autonomy was acquired by Applied Intuition in October 2024. |
| What is Ghost Autonomy's valuation? | Ghost Autonomy was last valued at $574M in its Series D in January 2021. |
| How much funding has Ghost Autonomy raised? | Ghost Autonomy has raised $217M across 6 funding rounds. |
| What was Ghost Autonomy's last funding round? | Ghost Autonomy's last funding round was a $5M Series E in November 2023, led by OpenAI Startup Fund. |
| Who are Ghost Autonomy's investors? | Ghost Autonomy's investors include Sutter Hill Ventures, Khosla Ventures, Founders Fund, OpenAI Startup Fund and Coatue. |
| Which companies are comparable to Ghost Autonomy? | Companies comparable to Ghost Autonomy include Deeproute, Roadstar.ai, D-Robotics, Helm.ai, Kodiak AI and Cidi. |
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