Waymo just announced a massive $2.25 billion funding round - the self-driving car company's first-ever raise from outside investors

Waymo

A Waymo One vehicle.

• Waymo announced its first-ever outside funding round on Monday - $2.25 billion.
• The round was led by investors Silver Lake, Canada Pension Plan Investment Board, and Mubadala Investment Company, the company said.
• Waymo didn't announce a valuation for the company based on the round.
• Visit Business Insider's homepage for more stories.

On Monday, Waymo announced its first-ever outside funding round - $2.25 billion led by Silver Lake, Canada Pension Plan Investment Board, and Mubadala Investment Company, the company said in a statement.

Waymo added that Magna International, Andreessen Horowitz, AutoNation, and Waymo's holding company, Alphabet, joined the round.

"We've always approached our mission as a team sport, collaborating with our OEM and supplier partners, our operations partners, and the communities we serve to build and deploy the world's most experienced driver," Waymo CEO John Krafcik said in a statement.

"Today, we're expanding that team, adding financial investors and important strategic partners who bring decades of experience investing in and supporting successful technology companies building transformative products. With this injection of capital and business acumen, alongside Alphabet, we'll deepen our investment in our people, our technology, and our operations, all in support of the deployment of the Waymo Driver around the world."

Waymo didn't announce a valuation tied to the funding round.

The company, formed in 2016 from what had been called the Google Car project, launched its Waymo One ride-sharing service in Arizona in 2018.

Get the latest Google stock price here.

NOW WATCH: Waymo is now letting ordinary people sign up to test its self-driving cars in Phoenix