Thrive Holdings, a private-equity-style firm that buys traditional businesses and installs AI into their workflows, has raised $2 billion at a $12 billion valuation.
SoftBank, D1 Capital Partners, and Altimeter Capital joined the round, which The New York Times first reported. The firm is a spinout of Thrive Capital, one of OpenAI’s major investors, and OpenAI took an ownership stake in December 2025, sending employees to work inside Thrive’s companies.
Thrive’s platform now spans more than 70 businesses. Current, its accounting arm, counts over 50 firms and 2,000 professionals, and its TaxAI agents processed more than 7,000 tax returns at 98 percent accuracy while cutting tax prep time by over 30 percent. Shield, the information technology arm, has roughly 20 companies and says its AI products sped up help desk resolution 36 times over.
Part of the new money will fund a third vertical focused on regulatory services for physical infrastructure: the approval, permitting, and compliance work behind data centers, power plants, and other built assets. The model mirrors billion-dollar ventures from OpenAI and Anthropic, which backed The Deployment Company and Ode with Anthropic to embed elite engineers into enterprises.
