Thrive Holdings announced on August 12 that it raised $2 billion at a $12 billion valuation, with participation from SoftBank, D1 Capital Partners and Altimeter Capital.

The firm is a spinout of Thrive Capital, an investor in OpenAI, and has been deploying OpenAI technology in traditional businesses such as accounting firms and IT service providers. OpenAI took a stake in Thrive in December 2025 and sent staff to help its portfolio companies adopt AI.

Thrive’s accounting division, Current, serves more than 50 firms and 2,000 professionals. Its tax AI, called TaxAI, processed more than 7,000 tax returns with 98 % accuracy and reduced preparation time by over 30 % at participating firms. Thrive’s information technology division, Shield, supports about 20 firms. Shield’s AI tools cut help‑desk resolution time by a factor of 36 and doubled the number of custom AI agents deployed in the past month.

The new financing will fund a third platform focused on regulatory services for the built environment, aiming to simplify approvals, construction, certification and ongoing operation of physical assets. Anuj Mehndiratta, a founding member of Thrive Holdings, said the complexity of data centers, manufacturing sites, healthcare facilities, power plants, water systems, transportation networks and other infrastructure creates operational bottlenecks that AI can help ease.

Kareem Zaki, another founding member, said in a statement that AI combined with expert practitioners can compress regulatory timelines, maintain safety standards and lower costs while accelerating project delivery, according to a statement sent to TechCrunch.

Thrive plans to launch the regulatory services platform and continue expanding AI adoption across its accounting and IT divisions, though the pace of integration across diverse sectors remains uncertain.