Thrive Holdings has secured $2 billion in fresh funding to expand its reach into the enterprise sector, valuing the firm at $12 billion. SoftBank, D1 Capital Partners, and Altimeter Capital joined the round.
What they do
The New York Times broke the story. Thrive operates as a private equity firm for artificial intelligence, purchasing traditional companies such as accounting practices and integrating AI into their daily operations. The firm has concentrated on accounting and information technology so far. Part of the new capital will fund a third vertical focused on physical assets. This move relies on Thrive’s strong ties to OpenAI.
Thrive spun out of Thrive Capital, a major investor in OpenAI. OpenAI took an ownership stake in Thrive Holdings in December 2025. The deal included OpenAI dispatching staff to work alongside Thrive’s portfolio companies to speed up AI adoption.
This hands-on approach to implementation has become a distinct business model and likely explains investor interest in the latest raise. OpenAI and Anthropic have both partnered with large private equity firms to launch similar ventures. The Deployment Company and Ode with Anthropic are billion-dollar projects building teams of senior engineers to embed themselves within enterprises and deploy AI solutions into workflows.
Current results
The funding follows proven success for Thrive’s companies, which have surpassed 70 businesses on the Holdings platforms. The company has focused on two pillars to date: Current, its accounting arm with more than 50 firms and more than 2,000 professionals, and Shield, its information technology arm with around 20 companies on the platform.
Current’s self-improving tax agents, known as TaxAI, processed more than 7,000 tax returns at 98% accuracy. This lowered tax prep times at participating firms by over 30%, according to Thrive. Meanwhile, Shield’s AI products have sped up help desk resolution times by 36x. The platform has doubled the number of custom AI agents deployed in the last month.
Part of Wednesday’s fundraise will help Thrive launch a third platform focused on regulatory services for the built environment. A spokesperson described this as “the work required to get physical assets approved, built, certified, and kept in operation.”
Physical infrastructure
“The U.S. needs to build and modernize more critical infrastructure, but projects are often constrained by local, technical, and regulatory complexity,” Anuj Mehndiratta, a founding member of Thrive Holdings, told TechCrunch. “This applies across data centers, manufacturing, healthcare, power, water, transportation, and other physical infrastructure.”
That kind of complexity is where Thrive thrives — large, fragmented, mission-critical, and operationally complex. While Mehndiratta says AI won’t replace field work, local judgement, or professional sign-off, it can help ease manual workflows like research, reporting, permit preparation, inspection documentation, and compliance tracking.
“We think AI partnered with a lot of the experts and practitioners at these businesses can really help compress [regulatory bottlenecks], keep the safety standards high, but also be able to do it with less of a burden to the actual building of that and help it do it more efficiently, lower cost and do it faster,” Kareem Zaki, a founding member of Thrive Holdings, said in a statement emailed to TechCrunch.
