Anysphere, the developer of the AI-native code editor Cursor, has closed a $1.2bn Series D round at a $25bn post-money valuation, the company confirmed on Friday. The round was led by Thrive Capital, with participation from Andreessen Horowitz, Benchmark, and the Stripes growth fund.
The valuation places Anysphere ahead of Figma's pre-acquisition mark and makes Cursor the highest-valued private developer-tooling company in history. Trailing twelve-month revenue is roughly $480m, three people briefed on the financials said, with month-over-month growth still in the high teens.
The competitive backdrop
Microsoft-owned GitHub launched a competing AI-first IDE last month, and Anthropic has been rumoured to be preparing a developer-tools push tied to Claude. Cursor's lead in actively-used seats — estimated at 1.4 million paid as of April — appears, for now, to be widening.