Cursor (Anysphere) raises $2.3B at $29.3B valuation, crosses $1B ARR
Cursor hit $29.3B valuation with $2.3B Series D in November 2025 (was <$10B months earlier). Total raised: $3.4B across 7 rounds. Crossed $1B ARR with 300+ employees. Backed by Accel, Thrive, a16z, Coatue, NVIDIA, and Google. Used by OpenAI, Spotify, Uber, Instacart, and MLB. OpenAI reportedly tried to acquire them but deal fell through. Acquired Koala and Supermaven. No IPO plans announced.
2 Comments
Cursor growth is phenomenal - from $400M seed to $29.3B in ~2 years. The $1B ARR milestone at ~300 employees means ~$3.3M revenue per employee, which is exceptional. The OpenAI acquisition attempt shows how valuable AI-native dev tools have become. Key question: can they maintain growth as GitHub Copilot and others compete?
The fact that OpenAI tried to acquire Cursor tells you everything about the AI coding wars. GitHub Copilot has brand recognition but Cursor is winning on product - the tab completion and multi-file editing feels magical. The acquisitions of Koala and Supermaven show they are consolidating the best AI coding talent. Developer tools are winner-take-most markets.