OpenAI-backed Thrive Holdings raises $2B at $12B valuation to expand AI-driven enterprise services

Thrive Holdings, an OpenAI-backed firm spun out of Thrive Capital, announced a $2 billion funding round at a $12 billion valuation led by SoftBank, D1 Capital Partners, and Altimeter Capital. The company describes itself as a private equity firm focused on AI, acquiring traditional businesses such as accounting and IT firms and integrating AI into their workflows.

Thrive’s strategy includes a close partnership with OpenAI, which took an ownership stake in December 2025 and deployed employees to work with Thrive’s portfolio companies to accelerate AI adoption. This hands-on approach has become a core part of Thrive’s business model and is cited as a driver of investor interest.

The company currently operates two platforms: Current, its accounting arm with more than 50 firms and over 2,000 professionals, and Shield, its IT arm with around 20 companies. According to Thrive, Current’s AI tax agents processed over 7,000 tax returns at 98% accuracy, reducing tax prep times by over 30% at participating firms. Shield’s AI tools reportedly sped up help desk resolution times by 36 times and doubled the number of custom AI agents deployed in the last month.

Part of the new funding will support the launch of a third platform focused on regulatory services for the built environment, which the company describes as handling work required to approve, build, certify, and maintain physical assets. Thrive argues that AI can ease manual workflows in research, reporting, permit preparation, inspection documentation, and compliance tracking, particularly in sectors like data centers, manufacturing, healthcare, power, water, and transportation.