Thrive Holdings has raised $2 billion at a $12 billion valuation, TechCrunch reported. SoftBank, D1 Capital Partners and Altimeter Capital are among the investors.
The company is a spinoff of Thrive Capital, the venture firm founded by Josh Kushner, and its founding members are Anuj Mehndiratta and Kareem Zaki. In December 2025, OpenAI took an ownership stake in Thrive Holdings and began sending its own employees to work alongside the companies Thrive owns on AI adoption.
Thrive Holdings is akin to a private equity firm for AI: rather than backing startups, it buys established service businesses and rebuilds their workflows around AI. It runs two platforms today. Current, its accounting arm, holds more than 50 firms and over 2,000 professionals. Shield, its information-technology arm, holds roughly 20 companies. Across both, the company counts more than 70 businesses.
Thrive Holdings put numbers to the results. Its TaxAI tool has processed more than 7,000 tax returns at 98% accuracy, and tax preparation times have fallen by more than 30%. On the IT side, help desk resolution times have accelerated 36-fold. The number of custom AI agents deployed across its businesses doubled in the past month.
The new capital funds a third vertical, a platform for regulatory services in the built environment, which a company spokesperson described as "the work required to get physical assets approved, built, certified, and kept in operation." "The U.S. needs to build and modernize more critical infrastructure, but projects are often constrained by local, technical, and regulatory complexity," Mehndiratta told TechCrunch. Zaki, in a statement emailed to TechCrunch, said: "We think AI partnered with a lot of the experts and practitioners at these businesses can really help compress [regulatory bottlenecks], keep the safety standards high."
Thrive Capital founder Josh Kushner and Bob Iger separately agreed to buy the Los Angeles Lakers at a record $12.5 billion valuation this week.
Uristocrat has covered Naive's $28.5 million Series A to build infrastructure for AI-run companies and Base Power's $1 billion Series D at a $13 billion valuation.
Source: TechCrunch
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