Thrive Holdings, a firm that acquires traditional businesses and integrates AI into their operations, has raised $2 billion in new funding at a $12 billion valuation, with backing from investors including SoftBank, D1 Capital Partners, and Altimeter Capital. Part of the funding will support the launch of a new vertical focused on regulatory services for physical infrastructure, including data centers, manufacturing, healthcare, and transportation.
Thrive Holdings, a spinout of Thrive Capital, has close ties to OpenAI, which took an ownership stake in the company in December 2025 and has sent employees to help accelerate AI adoption across Thrive’s portfolio companies. That hands-on implementation model mirrors similar efforts by OpenAI and Anthropic, both of which have launched joint ventures with private equity firms to embed AI engineering teams within enterprises.
Thrive currently operates more than 70 companies across two divisions: Current, its accounting arm, and Shield, its IT services arm. According to the company, its AI tax tools have processed thousands of returns with high accuracy while cutting preparation times significantly, and its IT-focused AI products have dramatically improved help desk resolution speeds.
Founding member Anuj Mehndiratta said the new infrastructure vertical will target sectors constrained by regulatory and technical complexity. Fellow founding member Kareem Zaki said AI can help ease bureaucratic bottlenecks in permitting and compliance work, though human oversight and professional judgment will remain essential.
Featured image: Credit: Thrive Holdings
