OpenAI-backed Thrive Holdings raises $2B at $12B valuation
On Aug 13 OpenAI-backed Thrive Holdings closed $2B at $12B valuation, expanding from accounting and IT into a third infrastructure compliance platform.
On August 13, OpenAI-backed Thrive Holdings announced the closing of over $2 billion in new funding at a $12 billion valuation. New external investors include D1 Capital Partners, Altimeter Capital, and SoftBank Group, with The New York Times first reporting the round. Thrive Holdings has now raised over $3 billion in total since founding.
Thrive Holdings spun out from Thrive Capital, one of OpenAI's major investors. In December 2025, OpenAI took a stake in Thrive Holdings and sent employees to portfolio companies to accelerate AI adoption. This model of embedding engineers directly inside enterprises to drive AI implementation has evolved into a standalone business, with OpenAI and Anthropic each partnering with large private equity firms on The Deployment Company and Ode with Anthropic respectively.
Thrive Holdings' platform now supports over 70 businesses: the Current accounting arm comprises 50+ accounting firms and 2,000+ professionals; the Shield IT arm includes about 20 companies. Current's TaxAI self-improving tax agent has processed over 7,000 tax returns at 98% accuracy, cutting tax preparation time by more than 30% at participating firms; Shield's AI products have accelerated helpdesk resolution 36x, with the number of custom AI agents deployed on the platform doubling in the past month.
Beyond scaling the existing accounting and IT platforms, the new capital will fund a third platform focused on regulatory services for critical infrastructure projects across approval, construction, certification, and long-term operations. Target sectors span data centers, manufacturing, healthcare, power, water, and transportation, with AI compressing manual work in research, report writing, permit application preparation, inspection documentation, and compliance tracking.