About Argo AI
Argo AI is a company based in Pittsburgh (United States) founded in 2016 by Peter Rander and Bryan Salesky.. Argo AI has raised $3.7 billion across 3 funding rounds from investors including Lyft, Ford and Volkswagen Group. The company has 852 employees as of December 31, 2022. Argo AI has completed 1 acquisition, including Princeton Lightwave. Argo AI operates in a competitive market with competitors including Waymo, Aurora, Cruise, Ridecell and Momenta, among others.
- Headquarter Pittsburgh, United States
- Employees 852 as on 31 Dec, 2022
- Founders Peter Rander, Bryan Salesky
- Stage Unicorn
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Sectors
Transportation, Automotive & LogisticsTechnology
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Email
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Phone
*********
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Website
*********
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Social
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- Legal Name Argo Ai, Llc
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$3.7 B (USD)
in 3 rounds
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Latest Funding Round
$97.3 M (USD), Series E
Jul 21, 2021
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Investors
Lyft
& 2 more
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Employee Count
852
as on Dec 31, 2022
- Investments & Acquisitions
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Funding Insights of Argo AI
Argo AI has successfully raised a total of $3.7B across 3 strategic funding rounds. The most recent funding activity was a Series E round of $97.3 million completed in July 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Series E — $97.3M
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First Round
First Round
(10 Feb 2017)
- Investors Count 3
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Series E - Argo AI | Valuation |
investors |
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| Jul, 2019 | Amount | Series E - Argo AI | Valuation | Volkswagen Group |
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| Feb, 2017 | Amount | Series D - Argo AI | Valuation | Ford |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Argo AI
Argo AI has secured backing from 3 investors, including institutional investors. Prominent investors backing the company include Lyft, Ford and Volkswagen Group. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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App-based ride-hailing aggregator
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Founded Year | Domain | Location | |
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Passenger and commercial vehicles are manufactured globally by Volkswagen Group.
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Founded Year | Domain | Location | |
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Automobiles and commercial vehicles are manufactured by Ford.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Argo AI
Argo AI has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Princeton Lightwave. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Provider of LiDAR-based fibre optic sensors
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2000 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Argo AI
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Argo Ai Comparisons
Competitors of Argo AI
Argo AI operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Waymo, Aurora, Cruise, Ridecell and Momenta, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Self-driving vehicle solutions are developed and deployed for transportation.
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| domain | founded_year | HQ Location |
AI and SaaS-based self-driving solutions for autonomous vehicles are provided.
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| domain | founded_year | HQ Location |
SaaS-enabled hardware and software for autonomous vehicles are developed.
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| domain | founded_year | HQ Location |
Cloud-enabled platforms for shared mobility and fleet management are provided.
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| domain | founded_year | HQ Location |
Autonomous driving software based on deep learning is developed.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Argo Ai
Frequently Asked Questions about Argo AI
When was Argo AI founded?
Argo AI was founded in 2016 and raised its 1st funding round 1 year after it was founded.
Where is Argo AI located?
Argo AI is headquartered in Pittsburgh, United States. It is registered at Pittsburgh, Pennsylvania, United States.
Who is the current CEO of Argo AI?
Bryan Salesky is the current CEO of Argo AI. They have also founded this company.
Is Argo AI a funded company?
Argo AI is a funded company, having raised a total of $3.7B across 3 funding rounds to date. The company's 1st funding round was a Series D of $1B, raised on Feb 10, 2017.
How many employees does Argo AI have?
As of Dec 31, 2022, the latest employee count at Argo AI is 852.
What does Argo AI do?
Argo AI was founded in 2016 in Pittsburgh, United States, focusing on the autonomous vehicle sector. Software, hardware, mapping, and cloud infrastructure are developed to support self-driving technology. Integration with vehicles occurs to enable ride-sharing and delivery applications. LiDAR systems for autonomous vehicles are also pursued. Operations center on advancing AI for transportation safety and efficiency.
How many acquisitions has Argo AI made?
Argo AI has made 1 acquisition, including Princeton Lightwave.
Who are Argo AI's investors?
Argo AI has 3 investors. Key investors include Lyft, Ford, and Volkswagen Group.
What is Argo AI's valuation?
The valuation of Argo AI is $7.25B as of Jul 2019.
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