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Cursor, a popular platform for AI-powered coding, has announced a $2.3 billion series D fundraise at a $29.3 billion valuation. In a blog post, the company said it will use this massive funding to “build a code editor that is more helpful, delightful, and fun than the world has ever seen.”
Cursor is the sole product of parent company Anysphere, founded by MIT graduates Michael Truell, Sualeh Asif, Arvid Lunnemark, and Aman Sanger in 2022. Since launching Cursor, Anysphere has grown into a unicorn due to its popularity with professional software developers, who use its AI-assisted features to write and edit large quantities of code.
Now, according to the company, Cursor has passed $1 billion in annualized revenue, making it one of the biggest winners of the AI coding explosion. In recent weeks, Cursor has launched a 2.0 redesign of its operating system, and introduced its own proprietary AI model, named Composer. The model has been positively received by software developers due to its high speed, and Cursor says that its “in-house models now generate more code than almost any other LLMs in the world.”
Cursor also revealed that it has acquired Growth by Design, a tech recruiting company that has worked with several AI companies, including OpenAI. In a joint statement, Cursor and Growth by Design said that two of the recruiting firm’s founding partners “and a few other team members” are joining Cursor, but the rest of the team will be “exploring what’s next,” and linked to a Google Sheet containing the now-unemployed recruiters’ contact information.
Investors in the series D fundraising round include existing investors Accel, Thrive, Andreessen Horowitz, and DST, along with new investors Coatue, NVIDIA, and Google. According to Forbes, this new valuation has made Anysphere’s four founders, all of whom are in their mid-20s, into billionaires.
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Ben Sherry
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