Roadrunner Raises $27 Million to Build AI-Native CPQ Software

Roadrunner builds AI-native, natural-language software for the configure, price, quote process that companies use to turn complex deals into revenue. Joubin Mirzadegan, who cofounded the company in 2025 with Ajay Natarajan and Eugene Shao, said the ambition is to build a $10 billion company using CPQ and the broader quote-to-cash space as its vehicle.

The startup has the distinction of being Kleiner Perkins’s first incubation since Glean, which is now valued at $7.2 billion. Mirzadegan was a partner at Kleiner Perkins when he pitched the idea to Mamoon Hamid. He told Hamid he had vibe-coded the concept over a weekend.

Early customer interest was strong. Hamid told Fortune that chief revenue officers said they would buy the product if it was built. The team developed a prototype and closed its first seven-figure deal within three months. Roadrunner is disclosing its funding for the first time.

The company has raised a total of $27 million, including a seed round led by Kleiner Perkins and Hamid and a Series A led by Founders Fund. Trae Stephens, a partner at Founders Fund and cofounder of Anduril, will join the board. Stephens said some businesses succeed because they address areas that are boring rather than controversial.

CPQ software sits at the intersection of complex pricing, organizational structures and legacy systems. Pricing models have expanded significantly. Mirzadegan said there has been a Cambrian explosion in approaches, including usage-based and seat-based pricing that older CPQ data models cannot handle.

The company is developing a system it calls PQA, or prompt, quote, approve, in which users prompt the system, it generates a quote and AI manages approvals. Hamid compared the opportunity to credit card transaction fees of 2 to 3 percent. He described the market for faster deal negotiation and cash collection as a blue ocean.

Mirzadegan remains a partner at Kleiner Perkins while serving as Roadrunner’s chief executive. He said solving hard problems that matter to customers who are willing to pay creates the foundation for larger ambitions.

Corporation, a San Carlos, California developer of a space-based power grid for AI, raised $275 million in Series B funding led by Index Ventures. Frame Security, a New York platform using AI to simulate social engineering attacks, raised $50 million from Index Ventures and others.

Vapi, a San Francisco developer of AI voice agents for enterprise use, raised $50 million led by Peak XV and joined by Kleiner Perkins. Ciridae, a San Francisco company building AI to automate processes for mid-sized businesses, raised $20 million in seed funding led by Accel.

365 Retail Markets, a portfolio company of Providence Equity Partners, acquired Cantaloupe, a provider of tech solutions for self-service commerce. Apollo agreed to acquire Questex, an information services and event platform company, from MidOcean Partners.

Satair, a subsidiary of Airbus, acquired Unical Aviation, an aircraft storage company, from Platinum Equity. Financial terms for the acquisitions were not disclosed.