Waymo drives the next chapter of autonomous mobility
Bessemer Venture Partners joins Waymo’s $16 billion Series D, paving the way for a future of autonomous driving that is safer and more sustainable.
Sameer Dholakia, Byron Deeter, David Cowan, Grace Ma & Alex Yuditski
Published on Feb 2, 2026
Across more than a century, our firm has witnessed—and invested through—multiple generational shifts: from the horse-drawn carriage to the passenger car, offline computing to the connected internet, on-premise software to the cloud, and desktop computing to mobile applications. Now, with manual services being fully automated by AI, we’ve seen Waymo go the extra mile in the global autonomy market—developing from an in-house project at Google to now operating at a true Level 4 autonomy scale.
We believe we’re now at the precipice of another world-changing transformation, so we’re proud to place one of our largest bets: backing Waymo in their latest $16 billion financing as they build the new way forward in mobility, enabling safer roads for all.
For two decades, Waymo has pioneered the development of autonomous driving and has emerged as the clear leader in translating that vision into real-world and imminent global impact. Along the way, Waymo championed advances across the AI technology stack, impacted generational shifts in consumer behavior, gained hard-earned operational learnings across cities, and informed the emerging regulatory recognition of the safety and strategic importance of autonomy. Within this complex web of change, Waymo has now distinguished itself by mastering both the technical and operational moats required to deliver safe, fully autonomous vehicles at scale—fundamentally reshaping the future of mobility.
Our conviction in Waymo: the team and technology
It’s a privilege to partner on an opportunity 17 years in the making—we have tremendous respect for the sustained organizational discipline and perseverance that have enabled Waymo’s growing success in U.S. ride-hailing. Our excitement for Waymo is reinforced by its position as the clear category leader (across both technological maturity and real-world commercial deployment) in what we believe to be a multi-trillion-dollar global autonomy market. Competing at this scale requires enormous and sustained investment across vehicles, data, simulation, infrastructure, and world-class talent, narrowing the field to only the most capable and well-capitalized players.
Waymo’s credibility with regulators and proven safety record also represent a powerful advantage. The core of Waymo’s mission is to become the world’s most trusted driver, with a strong commitment to Vision Zero — the global effort to eliminate traffic-related fatalities and serious injuries. The data to date shows Waymo is already making streets 10x safer with 90% fewer serious injury (or worse) crashes than the average human driver in similar scenarios.
We're more than thrilled to back Waymo's highly experienced executive team, which includes a stellar pool of talent in the Autonomous Vehicle (AV) industry. The team is led by co-CEOs Tekedra Mawakana, previously Waymo's COO with leadership experience at eBay, Yahoo, AOL, and Startec, and Dmitri Dolgov, previously Waymo's CTO and a Google veteran with a PhD in computer science whose research at Stanford and Toyota focused on self-driving technology. The road ahead will require continued innovation, operational discipline, and perseverance. We recognize that inventing the future means navigating uncharted territory, and we're honored to support Waymo’s journey toward a safer, more accessible future of mobility.
Contributors
Sameer Dholakia
Partner
Sameer Dholakia is a partner of the growth investment practice at Bessemer, where he focuses on GenAI and Physical AI investments.
Before starting his second career in Venture Capital in 2022, Sameer spent 25 years as an operator, building software companies. His most recent role was as the CEO of Bessemer-backed, SendGrid, which he joined in 2014. He accelerated the company’s growth and led SendGrid through a successful IPO in 2017 and subsequent acquisition by leading cloud communications platform Twilio for approximately $3 billion in early 2019.
Before joining SendGrid, Sameer served as GM of the Cloud Platforms Group at Citrix, which he joined following its acquisition of his first startup, VMLogix.
Sameer earned a B.A. in economics and a M.A. in organizational studies from Stanford University. He also holds an M.B.A. from Harvard Business School.
Outside of work, Sameer most treasures his time with his wife, Laura, and their two kids. He enjoys traveling, watching sports, and trying to improve his golf game. He also supports philanthropic efforts at Pledge 1% and is the Board Chair of the Menlo School Board.
Byron Deeter
Partner
Byron Deeter is a leading investor in AI, Cloud, Frontier Technology, and the Business of Sports. He co-authored Bessemer’s iconic 10 Laws of Cloud Computing, the Bessemer Forbes Cloud 100, the BVP Nasdaq Emerging Cloud Index, and Bessemer’s STRIVE program for executive health and wellness. Byron works closely alongside many of the best founders in the cloud world, with 26 of Byron’s investments currently valued above $1 billion each, including 13 IPOs and counting.
Byron first raised a Series A with Bessemer back in 2000, as CEO and founder of Trigo Technologies. His company grew to be one of the first global SaaS companies, reaching profitability and was successfully sold to IBM. Byron foresaw that cloud computing would not only change the way people built new technologies but also how The Cloud would systematically run the world. In 2005, Byron returned to Bessemer, this time to help lead the firm’s global cloud practice.
Byron graduated with honors from The University of California, Berkeley, where he met his then college sweetheart and now wife. Byron is a perennial Midas List investor, past Chairman of the National Venture Capital Association, partner/owner of the San Francisco 49ers and Leeds United, as well as an active board member/advisor to numerous causes including the U.S. Olympic & Paralympic Foundation, U.C. Berkeley Foundation, Pledge 1% and Cal Rugby. Although he’s a four-time Rugby Collegiate National Champion and serial Ironman finisher, he’s largely converted to leisure sports of golf, wake surfing, and skiing with his wife and three children.
David Cowan
Partner
David Cowan is one of the world’s leading investors, having funded Seed, Series A, and Series B rounds that led to over 30 IPOs. David was ranked sixth on the Midas List and tied for fourth in the Midas List of Hall of Fame.
Based in our Silicon Valley office, David launched Bessemer's practices in cloud, cybersecurity, consumer internet, gaming, space, and quantum computing. Known for taking chances on the unorthodox, David’s early stage bets include Twitch (acquired by Amazon), Rocket Lab (NASDAQ: RKLB), and Skybox Imaging (acquired by Google).
David has co-founded three cybersecurity companies incubated within Bessemer’s offices: VeriSign (NASDAQ: VRSN), serving as initial Chairman and CFO; Good Technology (fka Visto, acquired by Blackberry) serving as CEO; and Defense.net (acquired by F5).
He earned an AB in computer science / mathematics and an MBA, both from Harvard University. Today he serves on several non-profit boards including the Center for Inquiry and the Smithsonian Center for Astrophysics. He is the co-writer of the Silicon Valley mockumentary series “Bubbleproof,” and Emmy-nominated producer of the award-winning MTV Documentary film “Afghan Dreamers.”
Grace Ma
Investor
Grace is an investor with Bessemer’s growth investment practice in San Francisco, where she primarily focuses on AI and software investments.
Prior to joining Bessemer, Grace was an Associate at Centana Growth Partners, where she worked on early-stage growth investments in software and fintech. She was also previously at Oliver Wyman as a strategy consultant, advising Fortune 500 companies in M&A, organizational effectiveness, and growth strategy.
Grace earned her B.S. from the University of California, Berkeley, where she majored in Business Administration and minored in Public Policy. Outside of work, Grace enjoys Pilates, traveling, and following the latest in F1.
Alex Yuditski
Vice President
Alex is a vice president with Bessemer’s growth investment practice where she primarily focuses on AI and cloud software investments.
Prior to joining Bessemer, Alex was an investor at Blue Owl Capital and focused on growth investments in 6sense, Brex, JumpCloud, Nuvemshop, Nylas, Kajabi, Klaviyo, Replicated, Robinhood, and Split. Prior to joining Blue Owl Capital, Alex was an investment banker in William Blair’s software M&A group and Regions Securities’ leveraged finance group.
Alex holds a bachelor’s degree in economics from Wake Forest University. Outside of work, you can find Alex cheering on the New York Giants, cooking, and spending time with friends and family.
