Coatue recently co-led the latest financing round of one of the hottest start-ups in recent years.
Software company Anysphere announced that it had raised $2.3 billion in a Series D financing round for its coding automation platform Cursor, according to an announcement on the company’s website. Coatue led the financing with Accel. It was Coatue’s first investment in the company, several published reports reveal.
The financing gives the company a valuation of $29.3 billion, the announcement says. This was more than three times the $9 billion the company was valued at just six months ago, when Anysphere raised $900 million in a Series C financing round.
This is also its fourth funding round since August 2024, when it raised $60 million in a Series A financing round at a post-money valuation of just $400 million, according to TechCrunch. So its valuation has swelled more than sevenfold in just 15 months. Anysphere is now the 25th-most-valuable private company, Crunchbase says.
Anysphere has attracted a number of powerful tech and venture capital firms. In its latest financing, other investors included existing participants Nvidia and Google parent Alphabet as well as Thrive Capital, DST Global, and Andreessen Horowitz. DST Global, Accel, and Andreessen have also been major participants in previous financings.
The company has grown exponentially over the past few years, saying it crossed $1 billion in annualized revenue. It has more than 300 engineers, researchers, designers, and operators, “with ambitious plans to expand our footprint.” The company added that it counts “millions of developers and many of the world’s most accomplished engineering organizations” among its customers.
“Cursor has quietly embedded itself into the daily workflow of engineers across industries,” TechFundingNews.com asserted in a recent article. “What stands out is that Anysphere achieved blistering growth without spending on marketing, a rarity in Silicon Valley. Its adoption spans elite deep-tech labs like OpenAI, mainstream consumer giants such as Uber, Spotify, and Instacart, and even unlikely users like Major League Baseball.”
The website adds that Cursor’s appeal lies in its “intuitive ability to observe a developer’s actions and suggest the next lines of code.”
Coatue has become increasingly active in the private space as these markets begin to recover from their collapse several years ago.
The Tiger Cub has already completed 39 private deals this year, including eight this quarter, according to Crunchbase. This compares with 43 in all of 2024 and 28 in 2023. In May, it raised $1 billion for Coatue Tech Fund I, its seventh venture capital fund, Crunchbase says.
