AUSTIN, Texas — Elon Musk's The Boring Company has raised a $657 million series C investment that gives the company a nearly $5.7 billion valuation. According to a new report from Austin Inno, that's the largest venture investment ever in the Austin area.
The report states that the next closest deal was the $300 million series E investment secured earlier in 2022 by Workrise, an energy industry labor marketplace. Workrise laid off an undisclosed number of employees in late March, according to the report.
In a tweet, Musk said, "Please consider working at The Boring Company! Our goal is to solve traffic, which plagues every major city on Earth."
The Boring Company, previously based in Palo Alto, California, now has its headquarters in Pflugerville. The company has made headlines in Central Texas over the past few years, most recently for a potential pedestrian tunnel development in Kyle.
The Boring Company currently has 40 Austin-area jobs listed on its careers page, including roles in engineering, operations and production.
For more information on The Boring Company's investment deal and the company as a whole, read Austin Inno's full report.
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