Thrive Holdings has raised more than $2 billion in new capital at a $12 billion valuation to expand its model of deploying frontier AI across businesses in critical industries. The financing brings the company’s total capital raised since inception to more than $3 billion. The new capital came from Thrive Holdings’ institutional partners along with new outside investors including D1 Capital Partners, Altimeter Capital, and SoftBank Group.
Over the past year, Thrive Holdings has applied AI transformation across more than 70 businesses that it owns and operates. The company’s engineers work directly with professionals inside those businesses to understand existing operations and develop AI products around their workflows.
Thrive Holdings said these AI products are already being used in daily operations and support businesses serving tens of thousands of customers.
The company plans to use the new funding to scale its model across its existing accounting and IT services platforms. Thrive Holdings is also launching a new platform focused on the technical and regulatory work required to get essential infrastructure approved, built, certified, and maintained over the long term.
Thrive Holdings sees the built environment services market as particularly well suited for its strategy because of its size, fragmented structure, mission-critical nature, and operational complexity. The company believes AI can improve customer outcomes while making it easier to modernize and expand physical infrastructure across the U.S.
The broader goal is to build platforms and AI products for critical industries that millions of businesses and consumers rely on every day.
KEY QUOTES:
“Over the past year, we’ve put AI transformation into practice within the more than 70 businesses we own and operate. Our engineers work directly with the practitioners inside these businesses to understand how the work actually gets done, then build and deploy AI products around their workflows. These products are already live in daily operations, helping to serve tens of thousands of customers.”
“The new capital gives us the resources to help scale our model across our existing platforms in accounting and IT services. We’re also launching a new platform focused on the technical and regulatory work required to get essential infrastructure approved, built, certified, and kept in long-term operation.”
“We are still early, and there is much more to do. Our ambition is to build the platforms and products that bring frontier AI into the critical industries millions of businesses and individuals depend on every day.”
Thrive Holdings
