Last year’s impact on the AI industry
Last year was monumental for the AI industry in the U.S. and beyond. In 2024, there were 49 startups that raised funding rounds worth $100 million or more, with three companies raising more than one “megaround” and seven companies securing rounds of $1 billion or larger. The momentum in 2024 was unprecedented, setting the stage for what was to come in 2025.
2025: Continuing the momentum
As we move through the first half of 2025, it is evident that the momentum from 2024 is carrying over. Multiple billion-dollar rounds have already been closed this year, with more AI megarounds in the U.S. during Q1 2025 compared to the same period in 2024. The growth and investment in the AI sector show no signs of slowing down.
Key funding rounds in 2025
June
- Enterprise search startup Glean secured a $150 million Series F round on June 10, led by Wellington Management. The company is now valued at $7.25 billion.
- Anysphere, the AI research lab behind AI coding tool Cursor, raised a substantial $900 million Series C round, valuing the company at nearly $10 billion.
May
- AI data labeling startup Snorkel AI announced a $100 million Series D round on May 29, valuing the company at $1.3 billion.
- LMArena, a community-driven benchmarking tool for AI models, raised a $100 million seed round, valuing the startup at $600 million.
- TensorWave, an AI infrastructure company based in Las Vegas, closed a $100 million Series A round on May 14.
April
- SandboxAQ secured a $450 million Series E round on April 4, valuing the AI model company at $5.7 billion.
- Runway, which creates AI models for media production, raised a $308 million Series D round on April 3, valuing the company at $3 billion.
March
- OpenAI raised a record-breaking $40 billion funding round on March 31, valuing the startup at $300 billion.
- Nexthop AI, an AI infrastructure company, closed a Series A round led by Lightspeed Venture Partners.
- Insilico Medicine secured $110 million for its generative AI-powered drug discovery platform.
- Celestial AI raised a $250 million Series C round to revolutionize AI infrastructure with its photonic fabric.
February and January highlights
February
- Together AI raised a $305 million Series B round on February 20, valuing the company at $3.3 billion.
- Lambda secured a $480 million Series D round on February 19, valuing the startup at nearly $2.5 billion.
- Abridge, an AI platform for transcribing patient-clinician conversations, closed a $250 million Series D round on February 17.
January
- ElevenLabs raised a $180 million Series C round on January 30, valuing the company at more than $3 billion.
- Hippocratic AI announced a $141 million Series B round on January 9, valuing the company at more than $1.6 billion.
This information has been updated to include more recent deals in April and June.
This content has been reviewed and revised to ensure accuracy.
