The AI industry entered 2025 with strong momentum.
There were 49 startups that raised funding rounds worth $100 million or more in 2024, per our count at TechCrunch; three companies raised more than one “mega-round,” and seven companies raised rounds that were $1 billion in size or larger.
The industry didn’t slow down in 2025. While less companies raised rounds larger than $1 billion, four — Anthropic raised two rounds over $1 billion — significantly more companies raised multiple rounds compared to 2024, eight.
How will 2026 compare? Elon Musk’s xAI announced a $20 billion Series E round and Sam Altman’s brain computer interface startup Merge Labs raised a $250 million seed round (with OpenAI as the lead investor) in the first few weeks of 2026, so signs point to another strong year. Of course, it’s still early; we’ll be watching to see if the momentum continues.
Here are all the U.S. AI companies that raised $100 million this year:
December:
Austin, Texas-based Mythic, which builds power-efficient compute for AI, raised a $125 million venture round that was led by DCVC. The round was announced on December 17 and included SoftBank, NEA and Linse Capital, among other investors.
Chai Discovery announced a $130 million Series B round on December 15. The round valued the company that builds AI models for biotech and drug discovery at $1.2 billion. Oak HC/FT and General Catalyst co-led the round.
Generative media platform Fal announced its third funding round of 2025 on December 9. This $140 million Series D round was led by Sequoia and valued the company at more than $4.5 billion.
Unconventional AI announced a monster $475 million seed round led by Lightspeed Venture Partners and Andreesen Horowitz on December 8. The round valued the one-year-old startup, which is rethinking the foundation of computers in the age of AI, at nearly $4.5 billion.
Boston-based 7AI, which builds cybersecurity AI agents, raised a $130 million Series A round that was announced on December 4. Index Ventures led the round with participation from Greylock, Spark Capital and CRV, among others.
November
All-in-one AI workspace platform Genspark announced a $275 million Series B round that valued the company at $1.25 billion on November 20. The round included Emergence Capital Partners, SBI Investment, and LG Technology Ventures, among others.
Luma AI, which builds models used for photo and video creation, raised $900 million in a Series C round that valued the startup at $4 billion. The round was led by Humain with participation from Andreessen Horowitz, AMD Ventures and Amplify Partners, among others.
Anysphere, the maker of viral vibe-coding platform Cursor, raised $2.3 billion in a funding round that valued the company at $29.3 billion. The round was announced on November 13 and is the company’s second funding round this year.
Parallel, which builds web infrastructure for AI agents, raised a $100 million Series A round that was announced on November 12. The round was co-led by Index Ventures and Kleiner Perkins.
Healthcare AI agent startup Hippocratic AI raised a $126 million Series C round that valued the company at $3.5 billion. The round was the company’s second this year, was announced on November 3, and was led by Avenir Growth.
October
Fireworks AI, a platform that allows users to build AI applications using open source models, raised a $250 million Series C round that was announced on October 28. The round valued the company at $4 billion.
Enterprise AI startup Uniphore is valued at $2.5 billion after a $260 million Series F round that was announced on October 22. The round included Snowflake Ventures, Nvidia, Databricks Ventures, and AMD, among others.
Sesame, a voice AI company, raised a $250 million Series B round co-led by Sequoia and Spark Capital. The round was announced on October 21 and also included SignalRank as a participant.
Cambridge, Massachusetts’s based OpenEvidence, which builds an AI chatbot for the medical field, raised its second funding round of 2025. The $200 million Series C round was announced on October 20 and valued the company at $6 billion.
Lila Sciences, which is looking to build a science superintelligence platform, announced its second funding round of 2025 on October 14. The $350 million Series A round was co-led by Braidwell and Collective Global.
DeepSeek competitor Reflection AI announced its second mega-round of the year on October 9. The $2 billion Series B round valued the company at $8 billion and was led by Nvidia.
EvenUp, which builds AI for the personal injury legal field, announced a $150 million Series E round that valued the company at more $2 billion on October 7. The round was led by Bessemer with participation from Lightspeed, Bain Capital and SignalFire, among others.
September
Periodic Labs, which is building an AI scientist, announced a $300 million seed round on September 30. Felicis and Andreessen Horowitz led the round with participation from Nvidia, Lightspeed, and Khosla Ventures, among others.
Cerebras Systems, an AI infrastructure company, raised a sizable $1.1 billion Series G round that valued the company at $8.1 billion. The round was announced on September 30 and was co-led by Fidelity and Atreides Management.
Modular announced a $250 million funding round on September 24. The round was led by US Innovative Technology Fund with participation from GV, Greylock, and General Catalyst, among others.
Distyl AI, which builds AI enterprise software, raised a $175 million Series B round that was announced on September 23. This round valued the startup at $1.8 billion and included investors like Khosla Ventures and Lightspeed.
AI infrastructure startup Upscale AI raised a sizable $100 million seed round that was co-led by Maverick Silicon and Mayfield. The round was announced on September 17 and also included StepStone Group, Stanford University, and Qualcomm Ventures, among others.
Groq, an AI inference company, raised a $750 million Series D-3 round that valued the company at nearly $6.9 billion. The round was announced on September 17 and was led by Disruptive.
AI training startup Invisible Technologies was valued at $2 billion after a $100 million fundraise that was announced on September 16. The raise was led by Vanara Capital with participation from Greycroft, Tallwoods Capital, and Freestyle Capital, among others.
Cognition AI, the creator of vibe-coding agent Devin, raised a $400 million Series C round that was announced on September 8. The round was led by Founders Fund and valued the company at $10.2 billion.
AI Infrastructure startup Baseten raised a $150 million Series D round that valued the company at $2.1 billion. The September 5 round was led by Bond with participation from CapitalG, IVP and Spark Capital, among others.
Bret Taylor’s customer service AI agent platform Sierra raised $350 million in a round led by Greenoaks Capital. This fundraise was announced on September 4 and valued Sierra at more than $10 billion.
You.com, a personalized AI search engine, raised a $100 million Series C round led by Cox Enterprises. The round was announced on September 3 and valued the company at $1.5 billion.
AI research lab Anthropic raised its second round of 2025 in September. Anthropic announced a $13 billion Series F round on September 2 that valued the company at $183 billion. The round was led by Iconiq, Fidelity, and Lightspeed.
August
Healthcare and housing automation platform EliseAI raised $250 million in a Series E round that valued the startup at $2.2 billion. The round, which was announced on August 20, was led by Andreessen Horowitz.
Decart, an AI research lab, raised $100 million at a $3.1 billion valuation. The round included Sequoia Capital, Benchmark, and Zeev Ventures, among others, and was announced on August 7.
July
Generative media platform Fal raised a $125 million Series C round led by Meritech Capital Partners. The company announced the round, which values Fal at $1.5 billion, on July 31. Salesforce Ventures, Shopify Ventures, Google AI Futures Fund, and others joined the round.
Five-year-old Ambience Healthcare, which is building an AI healthcare operating system, raised a $243 million Series C round that was led by Oak HC/FT and Andreessen Horowitz. Kleiner Perkins, OpenAI Startup Fund, Smash Capital, and others also participated in the round.
Reka AI, an AI research lab, raised $110 million in a round that included Snowflake and Nvidia. The Series B round was announced on July 22 and values the company at $1 billion.
AI research lab Thinking Machines Lab confirmed that it raised $2 billion on July 15. This sizable seed round was led by Andreessen Horowitz with participation from Nvidia, Accel, and AMD, among others. The round values the company at $12 billion.
Cambridge, Massachusetts-based OpenEvidence, which is building an AI-powered search tool for clinicians, raised $210 million at a $3.5 billion valuation. The Series B round was announced on July 15 and was led by Kleiner Perkins and GV.
Harmonic, which is building a mathematical reasoning engine, raised a $100 million Series B round led by Kleiner Perkins. The round was announced on July 10 and values the company at $875 million.
June
Healthcare AI unicorn Abridge announced it raised a $300 million Series E round that values the company at $5.3 billion. The round was led by Andreessen Horowitz with Khosla Ventures participating. It was the company’s second round of 2025.
Harvey, which builds AI tools for the legal industry, announced it raised its second $300 million round of 2025 on June 23. This latest Series E round was co-led by Kleiner Perkins and Coatue and brings the company’s valuation to $5 billion.
Healthcare AI startup Tennr announced it raised a $101 million Series C round led by IVP with participation from Lightspeed Venture Partners, GV, and Andreessen Horowitz, among others. The round values the company at $605 million.
Enterprise search startup Glean continues to rake in cash. The company announced a $150 million Series F round on June 10, led by Wellington Management with participation from Sequoia, Lightspeed Venture Partners, and Kleiner Perkins, among others. Glean is now valued at $7.25 billion.
Anysphere, the AI research lab behind AI coding tool Cursor, raised a sizable $900 million Series C round that values the company at nearly $10 billion. The round was led by Thrive Capital with participation from Andreessen Horowitz, Accel, and DST Global.
May
AI data labeling startup Snorkel AI announced a $100 million Series D round on May 29, valuing the company at $1.3 billion. The round was led by Addition with participation from Prosperity7 Ventures, Lightspeed Venture Partners, and Greylock.
LMArena, a popular, community-driven benchmarking tool for AI models, raised a $100 million seed round that valued the startup at $600 million. The round was announced on May 21 and was co-led by Andreessen Horowitz and UC Investments. Lightspeed Venture Partners, Kleiner Perkins, and Felicis also participated, among others.
Las Vegas-based AI infrastructure company TensorWave announced a $100 million Series A round on May 14. The round was co-led by Magnetar Capital and AMD Ventures with participation from Prosperity7 Ventures, Nexus Venture Partners, and Maverick Silicon.
April
SandboxAQ closed a $450 million Series E round on April 4 that valued the AI model company at $5.7 billion. The round included Nvidia, Google, and Bridgewater Associates founder Ray Dalio among other investors.
Runway, which creates AI models for media production, raised a $308 million Series D round that was announced on April 3, valuing the company at $3 billion. It was led by General Atlantic. SoftBank, Nvidia, and Fidelity also participated.
March
AI behemoth OpenAI raised a record-breaking $40 billion funding round that valued the startup at $300 billion. This round, which closed on March 31, was led by SoftBank with participation from Thrive Capital, Microsoft, and Coatue, among others.
On March 25, Nexthop AI, an AI infrastructure company, announced that it had raised a Series A round led by Lightspeed Venture Partners. The $110 million round also included Kleiner Perkins, Battery Ventures, and Emergent Ventures, among others.
Cambridge Massachusetts-based Insilico Medicine raised $110 million for its generative AI-powered drug discovery platform as announced on March 13. This Series E round valued the company at $1 billion and was co-led by Value Partners and Pudong Chuangtou.
AI infrastructure company Celestial AI raised a $250 million Series C round that valued the company at $2.5 billion. The March 11 round was led by Fidelity with participation from Tiger Global, BlackRock, and Intel CEO Lip-Bu Tan, among others.
Lila Sciences raised a $200 million seed round as it looks to create a science superintelligence platform. The round was led by Flagship Pioneering. The Cambridge, Massachusetts-based company also received funding from March Capital, General Catalyst, and ARK Venture Fund, among others.
Brooklyn-based Reflection.Ai, which looks to build superintelligent autonomous systems, raised a $130 million Series A round that values the 1-year-old company at $580 million. The round was led by Lightspeed Venture Partners and CRV.
AI coding startup Turing closed a Series E round on March 7 that valued the startup, which partners with LLM companies, at $2.2 billion. The $111 million round was led by Khazanah Nasional with participation from WestBridge Capital, Gaingels, and Sozo Ventures, among others.
Shield AI, an AI defense tech startup, raised $240 million in a Series F round that closed on March 6. This round was co-led by L3Harris Technologies and Hanwha Aerospace, with participation from Andreessen Horowitz and the US Innovative Technology Fund, among others. The round valued the company at $5.3 billion
AI research and large language model company Anthropic raised $3.5 billion in a Series E round that valued the startup at $61.5 billion. The round was announced on March 3 and was led by Lightspeed with participation from Salesforce Ventures, Menlo Ventures, and General Catalyst, among others.
February
Together AI, which creates open source generative AI and AI model development infrastructure, raised a $305 million Series B round that valued the company at $3.3 billion. The February 20 round was co-led by Prosperity7 and General Catalyst with participation from Salesforce Ventures, Nvidia, Lux Capital, and others.
AI infrastructure company Lambda raised a $480 million Series D round that was announced on February 19. The round valued the startup at nearly $2.5 billion and was co-led by SGW and Andra Capital. Nvidia, G Squared, ARK Invest, and others also participated.
Abridge, an AI platform that transcribes patient-clinician conversations, was valued at $2.75 billion in a Series D round that was announced on February 17. The $250 million round was co-led by IVP and Elad Gil. Lightspeed, Redpoint, and Spark Capital also participated, among others.
Eudia, an AI legal tech company, raised $105 million in a Series A round led by General Catalyst. Floodgate, Defy Ventures, and Everywhere Ventures also participated in the round in addition to other VC firms and numerous angel investors. The round closed on February 13.
AI hardware startup EnCharge AI raised a $100 million Series B round that also closed on February 13. The round was led by Tiger Global with participation from Scout Ventures, Samsung Ventures, and RTX Ventures, among others. The Santa Clara-based business was founded in 2022.
AI legal tech company Harvey raised a $300 million Series D round that valued the 3-year-old company at $3 billion. The round was led by Sequoia and announced on February 12. OpenAI Startup Fund, Kleiner Perkins, Elad Gil, and others also participated in the raise.
January
Synthetic voice startup ElevenLabs raised a $180 million Series C round that valued the company at more than $3 billion. It was announced on January 30. The round was co-led by Iconiq and Andreessen Horowitz. Sequoia, NEA, Salesforce Ventures, and others also participated in the round.
Hippocratic AI, which develops large language models for the healthcare industry, announced a $141 million Series B round on January 9. This round valued the company at more than $1.6 billion and was led by Kleiner Perkins. Andreessen Horowitz, Nvidia, and General Catalyst also participated, among others.
This piece was updated on April 23, June 18, August 27, November 26 and January 19, 2026 to include more deals.
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This piece has been updated to remove that Abridge is based in Pittsburgh; the company was founded there.
