Key Takeaways AI coding startup Anysphere’s latest funding round values the company at $29.3 billion.
The funding round, announced Thursday, makes Anysphere’s four co-founders billionaires.
According to one estimate, each founder holds a 4.5% stake in the company worth at least $1.3 billion.
AI coding startup Anysphere completed a $2.3 billion Series D funding round on Thursday, valuing the company at $29.3 billion. Accel and Coatue co-led the round, with substantial investments from tech giants like Nvidia and Google. Anysphere’s flagship product is Cursor, an AI code editor.
As a result of this new funding round, the four co-founders of Anysphere, who all met at MIT as undergraduates and founded the startup in 2022, have become billionaires for the first time, per Inc.
The four co-founders are Michael Truell (Cursor CEO), Sualeh Asif (chief product officer), Arvind Lunnemark (former chief technology officer) and Aman Sanger (chief operating officer). Forbes estimates that each founder holds a 4.5% stake in the company worth at least $1.3 billion. All four founders are under 30 years old.
Anysphere’s ascent has been rapid. In January, the startup became the fastest-growing company to hit $100 million in annual revenue, reaching the milestone in 14 months. Anysphere is the fastest-growing startup of all time, according to its investors. The startup has grown nearly 12-fold in valuation since January and has reached annual recurring revenue exceeding $1 billion in the past two years.
Related: This AI Startup Spent $0 on Marketing. Its Revenue Just Hit $200 Million in March.
Millions of software developers on teams at Nvidia, Adobe and Uber use Cursor, per Forbes. The tool has skyrocketed in popularity among individual developers since its launch last year.
Anysphere has grown because of “the value” the company’s Cursor AI tool offers software developers, Truell told Bloomberg earlier this year. Cursor can generate new code based on prompts, a practice known as vibe coding. It also acts as a spell check for code, automatically correcting errors.
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