OpenAI-backed Thrive Holdings raises $2 billion at $12 billion valuation

Aug 12, 2026

Thrive Holdings, an AI-focused holding company backed by OpenAI and founded by Josh Kushner, raised $2 billion at a $12 billion valuation on August 12, 2026. Supported by investors like SoftBank, D1 Capital Partners, and Altimeter Capital, the firm acquires traditional businesses to integrate AI into their workflows. Thrive plans to use the capital to expand beyond its existing accounting and IT platforms into a new vertical addressing regulatory bottlenecks in physical infrastructure.

Thrive Holdings $2 billion raise

▪Thrive Holdings raised $2 billion in new funding at a $12 billion valuation on August 12, 2026.
▪Investors in Thrive Holdings' $2 billion funding round on August 12, 2026, included SoftBank, D1 Capital Partners, and Altimeter Capital.
▪The New York Times first reported the news of Thrive Holdings' $2 billion funding round on August 12, 2026.
▪Thrive Holdings is a spinout of Thrive Capital and was founded by Josh Kushner.

AI implementation business model

▪OpenAI and Anthropic have partnered with large private equity firms to launch joint ventures, such as The Deployment Company and Ode with Anthropic, focused on enterprise AI implementation.
▪Thrive Holdings operates like a private equity firm by acquiring traditional businesses and implementing artificial intelligence into their workflows.

OpenAI ownership stake

▪OpenAI took an ownership stake in Thrive Holdings in December 2025, which included sending OpenAI employees to work with Thrive's companies to accelerate AI adoption.
▪Thrive Holdings maintains a close relationship with OpenAI, providing the holding company with access to OpenAI's technology to deploy across its acquired businesses.

Current accounting platform performance

▪Thrive Holdings' accounting arm, Current, consists of more than 50 firms and over 2,000 professionals.
▪Current's self-improving tax agents, TaxAI, processed over 7,000 tax returns at 98% accuracy, reducing tax preparation times at participating firms by over 30%.

Shield IT platform performance

▪Thrive Holdings' information technology arm, Shield, comprises approximately 20 companies on its platform.
▪Shield's artificial intelligence products sped up help desk resolution times by 36 times and doubled the number of custom AI agents deployed in the month leading up to August 12, 2026.

Physical infrastructure regulatory services

▪Thrive Holdings plans to use part of its $2 billion funding raised on August 12, 2026, to launch a third platform focused on regulatory services for physical assets and built environments.
▪Anuj Mehndiratta of Thrive Holdings stated that the new physical infrastructure vertical will target regulatory and technical complexities across data centers, manufacturing, healthcare, power, water, and transportation.