About The Boring Company
The Boring Company is a company based in Bastrop (United States) founded in 2016 by Elon Musk. It operates as a Mobility-as-a-Service. The Boring Company has raised $908.29 million across 3 funding rounds from investors including Lennar, Tishman Speyer and Brookfield Asset Management. The company has 22 employees as of December 31, 2022. The Boring Company offers products and services including Loop and Prufrock. The Boring Company operates in a competitive market with competitors including Petra, r2p, Trapeze Group, HaCon and Clever Devices, among others.
- Headquarter Bastrop, United States
- Employees 22 as on 31 Dec, 2022
- Founders Elon Musk
- Stage Unicorn
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Sectors
Real Estate & ConstructionTechnology Transportation, Automotive & Logistics
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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 The Boring Company
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Annual Revenue
$17.17 K (USD)0as on Mar 31, 2023
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Net Profit
$-9.67 K (USD)0as on Mar 31, 2023
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EBITDA
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Total Equity Funding
$908.29 M (USD)
in 3 rounds
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Latest Funding Round
$675.29 M (USD), Series C
Apr 20, 2022
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Investors
Lennar
& 13 more
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Employee Count
22
as on Dec 31, 2022
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Products & Services of The Boring Company
The Boring Company offers a comprehensive portfolio of products and services, including Loop and Prufrock. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
An underground system for rapid public transportation.
A machine designed for fast tunnel construction.
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Funding Insights of The Boring Company
The Boring Company has successfully raised a total of $908.29M across 3 strategic funding rounds. The most recent funding activity was a Series C round of $675.29 million completed in April 2022. 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 C — $675.3M
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First Round
First Round
(06 Apr 2018)
- Investors Count 14
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Apr, 2022 | Amount | Series C - The Boring Company | Valuation | Vy Capital , Sequoia Capital | |
| Jul, 2019 | Amount | Series B - The Boring Company | Valuation | Vy Capital , 8VC | |
| Apr, 2018 | Amount | Angel Round - The Boring Company | Valuation |
investors |
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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 The Boring Company
The Boring Company has secured backing from 14 investors, including venture fund and institutional investors. Prominent investors backing the company include Lennar, Tishman Speyer and Brookfield Asset Management. 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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Investment services are provided for maximizing gains over time.
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Founded Year | Domain | Location | |
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Sequoia Capital is engaged in venture capital investments.
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Founded Year | Domain | Location | |
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Private equity firm
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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 The Boring Company
| 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 |
Financial Statements - The Boring Company
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| 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 |
The Boring Company Comparisons
Competitors of The Boring Company
The Boring Company 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 Petra, r2p, Trapeze Group, HaCon and Clever Devices, 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 |
Innovative trenchless technology for utility tunnel boring is provided.
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| domain | founded_year | HQ Location |
Integrated solutions for public transport management are offered by r2p.
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| domain | founded_year | HQ Location |
Tech-enabled software solutions are provided for transit operations management.
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| domain | founded_year | HQ Location |
Intelligent transit software is supplied to mobility operators.
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| domain | founded_year | HQ Location |
Tech-enabled intelligent transportation system for public transits
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| Company Name | Domain | Founded year | HQ Location | Description |
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| 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 The Boring Company
Frequently Asked Questions about The Boring Company
When was The Boring Company founded?
The Boring Company was founded in 2016 and raised its 1st funding round 2 years after it was founded.
Where is The Boring Company located?
The Boring Company is headquartered in Bastrop, United States. It is registered at Bastrop, Texas, United States.
Is The Boring Company a funded company?
The Boring Company is a funded company, having raised a total of $908.29M across 3 funding rounds to date. The company's 1st funding round was a Angel Round of $113M, raised on Apr 06, 2018.
How many employees does The Boring Company have?
As of Dec 31, 2022, the latest employee count at The Boring Company is 22.
What is the annual revenue of The Boring Company?
Annual revenue of The Boring Company is $17.17K as on Mar 31, 2023.
What does The Boring Company do?
Safe, fast-to-dig, and low-cost transportation, utility, and freight tunnels are created by The Boring Company. The focus is on solving traffic issues and enabling rapid point-to-point transportation through subterranean technology. Projects like Loop, an all-electric underground public transportation system, are implemented, with the first commercial operation at the Las Vegas Convention Center. Additionally, Prufrock, a tunneling machine, is utilized to construct infrastructure at unprecedented speeds. The aim is to transform cities by alleviating congestion through multi-level tunnel networks.
Who are the top competitors of The Boring Company?
The Boring Company's top competitors include GreenCell Mobility, HaCon and Petra.
What products or services does The Boring Company offer?
The Boring Company offers Loop and Prufrock.
Who are The Boring Company's investors?
The Boring Company has 14 investors. Key investors include Lennar, Tishman Speyer, Brookfield Asset Management, Dacra, and Vy Capital.
What is The Boring Company's valuation?
The valuation of The Boring Company is $5.7B as of Apr 2022.