Kodiak AI says it has lined up $100 million in gross proceeds through a private placement, giving the autonomous trucking company fresh capital as it pushes toward a planned long-haul driverless launch later this year.

According to Kodiak's May 7 earnings release and 8-K, the financing includes 15,384,609 shares of common stock sold at $6.50 per share plus matching warrants exercisable at $6.00. The company said the deal includes both new institutional investors and existing backers, including an affiliate of Ares Management, and that the proceeds are intended for working capital and general corporate purposes.

The raise arrived alongside first-quarter operating results that show a business still early, but expanding. Kodiak reported $1.8 million in Q1 revenue, up 74% quarter over quarter, and said it ended March with 28 customer-owned driverless vehicles in service after deploying eight more during the quarter. It also said its trucks had accumulated more than 23,500 cumulative hours of paid driverless operations, up 120% from the end of Q4 2025.

Kodiak's update also tied the financing to concrete deployment milestones. The company said it launched regular freight service with Roehl Transport between Dallas and Houston and raised its internal Autonomy Readiness Measure for long-haul trucking to 86% as of the end of April.

The conservative takeaway is straightforward: Kodiak has added cash, priced a sizable equity-and-warrant financing, and is still spending heavily to prove that driverless trucking can become a repeatable commercial business.