OpenAI-backed Thrive Holdings secures $2B to bring AI to enterprise, valued at $12B

Thrive Holdings has raised $2 billion in new funding at a $12 billion valuation from investors including SoftBank, D1 Capital Partners, and Altimeter Capital. The firm, which operates like a private equity firm for AI, acquires traditional businesses such as accounting firms and integrates AI into their workflows. To date, focus has been on accounting and IT, but part of the new funds will expand into a physical assets vertical. Thrive’s close relationship with OpenAI is key: as a spinout of Thrive Capital (an OpenAI investor), OpenAI took an ownership stake in December 2025 and sent employees to accelerate AI adoption. This hands-on model has attracted investor interest, echoing similar ventures like The Deployment Company with OpenAI and Ode with Anthropic. Thrive’s platform now includes over 70 businesses, with Current (accounting, 50+ firms, 2,000+ professionals) and Shield (IT, ~20 companies). Current’s TaxAI agents processed over 7,000 tax returns at 98% accuracy, cutting prep times by over 30%, while Shield sped up help desk resolution by 36x and doubled custom AI agents deployed in the last month. The new funding will launch a third platform focused on regulatory services for the built environment, addressing complexities in infrastructure projects such as data centers and transportation. AI, per Thrive, will not replace field work but can ease manual workflows like research, permit preparation, and compliance tracking.