Thrive Holdings has raised $2 billion in new funding at a $12 billion valuation, bringing in investors including SoftBank, D1 Capital Partners, and Altimeter Capital.
Founded by Thrive Capital’s Josh Kushner, the holding company follows a private-equity-style strategy focused on acquiring traditional businesses and introducing artificial intelligence into their workflows.
Thrive Holdings has initially concentrated on accounting and information technology companies, where it aims to use AI to improve existing operations. Part of the new capital will support an expansion into a vertical focused on physical assets.
The strategy is supported by Thrive’s close relationship with OpenAI, giving the company access to technology it can deploy across acquired businesses. The funding round positions Thrive to broaden its acquisition pipeline as investors look beyond AI model developers toward companies applying the technology in established industries.
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