At a time when self-driving was supposed to be the arena of big companies like Google, Kyle Vogt and Daniel Kan believed in the speed that their start-up could bring to a market not developing fast enough. We developed a relationship with Kyle and Dan for months prior to them raising their Series A. They painted a picture of a world where autonomous vehicles came out of corporate R&D and actually onto the road—and had the demos to back it up. It was clear we wanted to play a part in that vision and led their Series A in September of 2015. On March 11, 2016—just five months later—General Motors announced it acquired Cruise for over $1 billion.
The real story is that this team, from their first prototype up until this last week of negotiations with GM, has stayed focused on making sure each step was getting the stars to align for them to bring self driving cars to the world. They have a singular goal, to be the first and best providers of self driving vehicles, and they just got a step closer.