Thrive Holdings has raised $2 billion in new funding at a valuation of $12 billion from investors including SoftBank, D1 Capital Partners and Altimeter Capital.
Thrive Holdings is akin to an AI private equity firm, acquiring traditional businesses such as accounting firms and introducing AI into their workflows. So far, Thrive has focused on accounting and information technology, but part of Wednesday’s funding will be used to expand into new areas of physical assets. Key to that strategy is Thrive’s close relationship with OpenAI.
The New York Times first reported the news.
The company is a spin-out from Thrive Capital, one of OpenAI’s major investors. In December 2025, OpenAI acquired a stake in Thrive Holdings. Part of the agreement included OpenAI sending employees to Thrive’s companies to accelerate AI adoption.
The practical model of AI implementation has become a business in itself, which may help explain the investor enthusiasm behind Thrive’s latest funding. OpenAI and Anthropic partnered with leading private equity firms to launch The Deployment Company and Ode with Anthropic, respectively. These ventures are building teams of elite engineers who integrate into enterprises and implement AI solutions into their workflows.
This pay increase comes on the back of the proven success of Thrive’s more than 70 companies on the Thrive Holdings platform. The company has so far focused on two pillars. One is Current, an accounting division with more than 50 companies and 2,000 professionals, and the other is Shield, an information technology division with about 20 companies on the platform.
According to Thrive, Current’s self-improving tax agent, called TaxAI, has processed more than 7,000 tax returns with 98% accuracy and reduced tax preparation time by more than 30% for participating companies. Meanwhile, Shield’s AI products have reduced help desk resolution times by 36x, and the platform has doubled the number of custom AI agents deployed in the last month.
A portion of Wednesday’s funding will help Thrive launch its third platform focused on regulatory services for the built environment. A spokesperson describes it as “the work necessary to approve, construct, certify, and maintain operational physical assets.”
“The United States needs to build and modernize more critical infrastructure, but projects are often constrained by regional, technical, and regulatory complexity,” Anuj Mehndiratta, founding member of Thrive Holdings, told TechCrunch. “This applies across data centers, manufacturing, healthcare, power, water, transportation, and other physical infrastructure.”
It’s this kind of complexity that Thrive thrives on. They are large, fragmented, mission-critical, and operationally complex. Mendiratta said AI cannot replace on-site work, local judgment, and expert approval, but it can help alleviate manual workflows such as inspections, reporting, permit preparation, inspection documentation, and compliance tracking.
“We believe that AI, in partnership with many of the experts and practitioners at these companies, will not only be very helpful in compressing[regulatory bottlenecks]and keeping safety standards high, but will also make the actual build less stressful, more efficient, less costly, and faster to execute,” Kareem Zaki, a founding member of Thrive Holdings, said in a statement emailed to TechCrunch.
If you buy through links in our articles, we may earn a small commission. This does not affect editorial independence.
